Coinbase Stock Token (COIN) Will List In Binance

Coinbase Stock Token (COIN) Will List In Binance

Binance announced that they will list Coinbase Stock Token (COIN) effective April 14th, 2021 (UTC).

Binance officially tweeted on Wednesday,

The COIN/USD trading pair will also open respectively. According to Binance, users can now also start trading fractional Coinbase stock on the Binance website. However, as of this moment, COIN is not yet reflected on the website’s Stock Token page.

Meanwhile, a lot of crypto enthusiasts are having a positive reaction to this. User MarkoKris2 replied on Twitter saying, “the next few weeks are gonna be insane”.

This announcement is alongside the recent Binance introduction of tradable stock tokens. The said crypto exchange announced this news on Monday. Moreover, Tesla (NASDAQ:TSLA) was the first stock token listed in Binance. Note that the tradable stock tokens will price in and payout in Binance USD.

What Are Binance Stock Tokens

Binance Stock Tokens are zero-commission digital tokens. A depository portfolio of underlying securities supports these and represents the outstanding token. In addition to this, holders of stock tokens are qualified for economic returns on the underlying stocks, including potential dividends.

Binance continues to react to market demand by listing more features and stock tokens. Clearly, the trading of these stock tokens will follow traditional exchange hours whereas it is not available for residents in Mainland China, Turkey, and other restricted jurisdictions.

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