The cryptocurrency exchange Binance announced the listing of tokenised shares with zero commissions to broaden access to traditional financial instruments. This is stated in the platform’s press release.
The exchange will first list the electric-car maker Tesla’s shares (ticker: TSLA). Users will be able to buy and sell tokens that confer the right to a portion of the company’s real shares.
The minimum trade size will be one hundredth of a token representing the same stake in Tesla shares.
“By connecting traditional and cryptocurrency markets, we are building another technological bridge for a more inclusive financial future,” said Binance CEO Changpeng Zhao.
Binance promised to expand the list of traded tokenised shares as demand grows. Traders must undergo KYC procedures, as the new product is not available to residents of China, Turkey, the United States and certain jurisdictions.
The exchange launched the new product in partnership with investment company CM-Equity AG and the Swiss platform Digital Assets AG.
Binance entered into a strategic partnership with CapBridge Financial, the private-capital markets platform regulated by the Monetary Authority of Singapore.