![]() ![]() ![]() CBSE balances will convert into the equivalent amountof Coinbase Fractional Stock tokens at the end of Coinbase's first publictrading day," FTX stated on its COIN/USD market page. It tracks Coinbase's market capdivided by 261,300,000. The move comes shortly after Binance listeda tradable stock token for Tesla earlier this month.įTX, a major crypto derivatives trading platform, putout a similar announcement today, stating that the platform has already listedthe COIN token. Stock token trading on Binance will follow traditionalexchange hours and is not available for residents in Mainland China, Turkey,and other restricted jurisdictions. The exchange stated that holdersof stock tokens qualify for economic returns on the underlying shares,including potential dividends. The new stock token will trade against Binance USD(BUSD), Binance's stablecoin pegged to the United States dollar and issued byPaxos Trust Company.īinance said that Coinbase stock tokens arezero-commission digital tokens fully backed by a depository portfolio ofunderlying securities representing the tokens. Major global cryptocurrency exchanges includingBinance and FTX have announced the listing of Coinbase's stock token ahead ofits direct listing on Nasdaq.Īccording to a Wednesday announcement, Binance willlist Coinbase's stock token (COIN) today, allowing its users to tradefractional Coinbase stock on the Binance website. Major exchanges areelbowing for exposure to Coinbase's listing. Wednesday, Ap/ 11:42 AM / By Cointelegraph / Header Image Credit: Binance ![]()
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