TechFlow News, April 12 — Binance announced the official launch of tradable equity tokens, allowing users to trade fractional shares. The first equity token listed on Binance is Tesla Inc. (TSLA), with TSLA/BUSD set to open at 21:35 Beijing time on April 12, 2021. The equity tokens will be priced, settled, and collateralized in BUSD.
The service was developed by Binance in partnership with German financial firm CM Equity AG and Swiss-based tokenization company Digital Assets AG. Previously, FTX also announced a collaboration with Digital Assets AG (DAAG) and CM Equity to launch equity token trading. According to the official announcement, residents of mainland China, Turkey, and other restricted jurisdictions are not permitted to trade these tokens.
