Germany’s financial authority claimed in April that they had “reasonable grounds” to believe the stock tokens broke securities regulations, while the UK’s financial regulator is looking into the problem. The day before, Italy’s financial regulator claimed Binance couldn’t function in the nation because of stock tokens. On FTX and Bittrex, CM-Equity continues to provide comparable services.īinance stated it discontinued the sale to focus on “other product offers,” but Hong Kong’s Securities and Futures Commission had warned consumers that Binance is not “licensed or registered” to provide tokenized stocks, which are “likely to be securities” under Hong Kong law, just hours before. Customers were unable to purchase new stock tokens, and Binance stated that the tokens would no longer be supported after October 14.

Press PLAY to know more about the zero-commission. There is another way, though, a path mostly known only to traders deeply embedded in. Democratizing financial participation across traditional and cryptocurrency markets with stock tokens. On the day of the IPO, Binance listed Coinbase stock and also sold tokenized equities in Tesla, Apple, and Microsoft.īinance abruptly stopped trading tokenized stocks in mid-July. FTX famously crumbled last year amid fraud allegations. On April 12, two days before Coinbase was listed on the Nasdaq, Binance released tokenized stocks. In the instance of Binance, CM-Equity served as the broker, selling tokenized, fractionalized equities to Binance’s users.īinance’s tokenized stocks, unlike ordinary stocks, did not pay dividends to users and did not allow them to vote as shareholders.

Tokenized stocks are crypto-derivatives that track the value of stocks.

Binance stock tokens