With crypto and perhaps the entire financial world focused on Coinbase’s direct listing occurring today, Binance announced it would list the stock tokens after the completion of the Nasdaq public listing.
BINENS FOR COIN / BUSD
Cryptocurrency The latest initiative of Binance, the world’s leading crypto exchange, reported the company introduced a zero commission tradable stock token. The so-called Binance stock tokens enable holders to qualify for economic returns on the underlying shares, including potential dividends.
The exchange said that the first such token to see the light of day would be Elon Musk’s Tesla. It seems to have enjoyed rapid adoption from users as the initiative trading volume Has reached close to $ 7 million in just a few days.
As a result, Binance has decided Detailed By presenting their portfolio of available stock tokens to each other, which will also deal with the exchange’s original stationary-busbud.
“Binance will list the Coinbase Stock Token (COIN) on 2021-04-14 (UTC), during which the COIN / BUSD trading pair will remain open. Users will be able to trade partial Coinbase stock on the Binance website. “
It is worth noting, however, that binance stock tokens are not available to everyone. Users located in Mainland China, Turkey, the United States and other restricted jurisdictions are Forbidden From trading them.
Nasdaq listing of Coinbase
All eyes are on the largest US-based cryptocurrency exchange today as its direct listing on the Nasdaq Global Select Market is due to be completed by the end of the working day.
Coinbase stopped using the more traditional IPO process, requiring the use of intermediaries called underwriters (usually banks) to smooth the list. Instead, the company opted for a direct listing approach (also known as a direct public offering (DPO)). With this, Coinbase will be able to start selling shares directly to the public without the employment of middlemen.
The community has rated several possible assessments as ranging from $ 90 billion to over $ 150 billion. The exact number will be known on the official listing.
Nonetheless, Coinbase going public is a much-needed news item for the entire cryptocurrency industry as it validates the growth experienced over the past decade. Additionally, it opens the door for other firms from the space with the announcement of similar plans such as Kraken, Bakkat, and eToro.
Original Source : usanewslab.com
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