Binance to Add the Stocks of Apple, Microsoft, and MicroStrategy as Tradable Tokens
A few weeks after launching its latest product – tradable stock tokens – Binance has decided to expand the portfolio with the shares of MicroStrategy, Apple, and Microsoft. The three new additions will be live by the end of April.
Binance to Add MSTR, AAPL, and MSFT
As CryptoPotato reported a few weeks back, the world’s leading cryptocurrency exchange launched a new service called Binance Stock Tokens. By partnering with the German investment company – CM-Equity AG and Switzerland’s Digital Assets AG, Binance introduced zero commission tradable stock tokens with one coin representing one share of the equity.
The initiative started with Tesla (TSLA), and the exchange added Coinbase’s shares (COIN) shortly after the company went public. Earlier today, Binance announced it will add three new stock tokens.
Namely, those are the shares of Apple (AAPL), the US multinational tech behemoth – Microsoft (MSFT), and Michael Saylor’s business intelligence giant – MicroStrategy (MSTR). They will be listed as follows:
- Microstrategy (MSTR/BUSD) at 2021-04-26 1:30 PM (UTC)
- Apple (AAPL/BUSD) at 2021-04-28 1:30 PM (UTC)
- Microsoft (MSFT/BUSD) at 2021-04-30 1:30 PM (UTC)
It’s worth noting that the Binance Stock Tokens come with certain restrictions. They are tradable only during US market hours and are not available for residents in Mainland China, Turkey, the US, and other nations.
MicroStrategy’s Link to the Crypto Industry
Microsoft and Apple have no deep affiliation with the cryptocurrency space, so their addition to Binance could be attributed to their popularity and being two of the world’s largest companies. MicroStrategy, on the other hand, is neck-deep in the industry, and especially bitcoin.
The NASDAQ-listed company announced in August last year its first massive purchase of over $200 million worth of BTC. Ever since then, MicroStrategy, and its founder and CEO, Michael Saylor, have made numerous frequent buys worth in total of over $2 billion.
Saylor became among the most vocal proponents of the primary cryptocurrency. The executive hosted a large conference aiming to educate CEOs of other firms about the merits of bitcoin.
Most recently, Saylor participated in an online discussion called The Great Debate. In it, he and Frank Guistra – a well-known gold supporter – argued whether BTC is a better investment tool than the precious metal.