Tesla Shares Are Sold On Binance

 

 Tesla Shares Are Sold On Binance!

Tesla Shares Tokenized on Binance, One of the World's Largest Crypto Money Exchanges, Launched.

   With the developing technology, the shares of the companies started to be sold as "tokens", just like crypto coins. However, Elon Musk, known for his proximity to cryptocurrencies and constantly on the cryptocurrency agenda, sold the shares of his automobile company Tesla as tokens on Binance.

   "Tokenized stock trading" was previously available through Bittrex Global, but this innovation by Binance had a great impact in the stock industry.

   

   Tesla tokens will be displayed on Binance as "TSLA". Also, Binance will not charge commission on Tesla share sales. The first stock tokens traded on Binance will be Tesla stock derivatives with minimum trade representing one percent of a stock, as well as using Binance's USD-pegged Stablecoin BUSD to price transactions.

   The statements of Binance CEO Changpeng Zhao on this subject are as follows;

Stock tokens show how we can more smoothly democratize the transfer of value, reduce maintenance and accessibility costs, without compromising compliance or security.

 

So what are the Binance Stock Tokens?

   According to the statements made by Binance, Binance Stock Tokens can be briefly described as the "tokenized" version of the ordinary stocks we know. After the tokenization, each token becomes supportable by the shares of the companies, each representing a 100% share of the stocks. In this way, Tesla tokens can be traded and those who own this token invest in Tesla shares.