Binance to List MSTR, MSFT, and AAPL as Stock Tokens
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In an announcement earlier today, Binance (BNB) noted that it would be listing some large-cap stocks, including MicroStrategy (MSTR), Microsoft (MSFT), and Apple (APPL), on its platform. According to the announcement, the MSTR/BUSD will get launched first (later today), while the MSFT/BUSD and AAPL/BUSD will get launched on April 28 and 30.
At the moment, Binance trades two stock token pairs, including Coinbase (COIN/BUSD) and Tesla (TSLA/BUSD). The exchange noted that stock tokens stand for one ordinary share of the underlying stock. Also, investors are entitled to economic returns on the underlying shares, like potential dividends.
Stock tokens are backed by a depository portfolio of underlying securities held by CM-Equity AG, Germany. Binance informed that trading for this asset class follows traditional market hours. However, the company noted that it is not accessible to users in Mainland China, Turkey, and the United States.
Meanwhile, stock tokens are collateralized and cash-settled in BUSD, which means there can be no physical redemption of the underlying shares.
One of the advantages of stock tokens is that they allow traders purchase the underlying stock for a fraction of the original price.
To trade stock token users are expected to have completed Level 2 KYC requirements, including ID and face verification.
Key BNB Levels to Watch — April 26
Binance Coin (BNB) has posted a decent rebound from its recent slump to the $475 support. Although it saw a mild rejection from the $550 resistance some hours ago, we are likely to see a bullish reversal to the $575 area over the coming hours.
That said, we expect a bullish recovery over the week to the $638 ATH and higher.
Meanwhile, our resistance levels are $550, $575, and $600, and our support levels are $525, $500, and $475.
Total Market Capitalization: $1.98 trillion
Binance Coin Market Capitalization: $83 billion
Binance Coin Dominance: 4.1%
Market Rank: #3
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