Crypto Exchange Binance Introduces Stock Trading Starting With Launch of Tesla Tokens

Global crypto exchange Binance is expanding its offerings with the launch of stock tokens.

In a new blog post, Binance reveals that it is unveiling tradable stock tokens that enable users to access shares of companies listed in traditional stock exchanges.

Binance notes that each stock token is fully backed and represents one share of equity stock. To facilitate the sale and storage of stock tokens, the crypto exchange has teamed up with investment firm CM-Equity AG and Switzerland-based asset tokenization platform Digital Assets AG.

Holders of stock tokens on Binance will be eligible to receive dividends if and when they become available as well as benefit from stock splits.

Binance kicks off its new product offering with the introduction of Tesla stock tokens. The Tesla stock token is paired with the Binance USD stablecoin (TSLA/BUSD) and will have a minimum trade size of 1/100th per stock token.

At the time of writing, Tesla’s shares are trading at slightly above $700 which translates to a minimum trade size of about $7.

Unlike the trading of regular cryptocurrencies which takes place round the clock, the trading of stock tokens will only occur during traditional exchange hours.

On the first day of trading, Binance’s vice president of futures Aaron Gong reveals that the Tesla stock token recorded 10 million BUSD in volume.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Pavel Chagochkin

The post Crypto Exchange Binance Introduces Stock Trading Starting With Launch of Tesla Tokens appeared first on The Daily Hodl.

First Commercial Bank in the US Allows Customers To Buy Bitcoin at ATM Locations

Blue Ridge Bank is making history as the first commercial bank to allow its customers to buy and sell Bitcoin at its ATM locations.

In a new statement, the Virginia-based commercial bank announces that customers can “purchase and redeem” Bitcoin at 19 ATM locations.

The US bank says it is partnering with Bitcoin ATM software provider LibertyX and BluePoint ATM Solutions to roll out the cryptocurrency feature.

LibertyX Co-Founder & CEO Chris Yim reports that customers have been asking for the ability to buy Bitcoin from conventional cash vending machines for some time now.

“For years, consumers have been asking for the ability to buy bitcoin from their banks. We are proud that BRB is the first bank in the nation to offer bitcoin services on their ATMs.”

To access Blue Ridge’s ATM Bitcoin feature, interested users will need to install the LibertyX app on their smartphones. The cash vending machines will be available for use by anyone with an accepted ATM card, regardless of the issuing bank. Other regular ATM services will continue as usual.

BluePoint ATM Solutions CEO Wade Zirkle expects more traditional financial institutions to follow Blue Ridge’s lead as demand for these types of fintech services continues to grow.

“We predict that more community banks and credit unions will demand innovative fintech solutions like this at their branches…”

While Blue Ridge is the first US commercial bank to offer Bitcoin access at its ATMs, crypto-only ATMs have been in existence for over seven years. The world’s first Bitcoin ATM started operations in Vancouver, Canada in October 2013.

In the US the total number of Bitcoin ATMs is currently 12,885, the highest number of any country in the world, according to Coin ATM Radar.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Phoenixns

The post First Commercial Bank in the US Allows Customers To Buy Bitcoin at ATM Locations appeared first on The Daily Hodl.

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