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The listing is set to go live after Coinbase stock might have become available on Nasdaq, however, the specific time for this listing remains unknown.
Just recently, we reported that Binance, a leading crypto exchange firm in the United States, announced that it was launching a new trading stocks tokens feature that would allow its users to trade in a traditional stock market. The firm had introduced a TSLA/BUSD trading pair that had witnessed enormous trading volume within its first 48 hours. With Coinbase set to go public on Nasdaq today, the Changpeng Zhao-led crypto exchange Binance has announced that it would be listing the stock token of its rival on its platform under the COIN/BUSD trading pair.
The available information has also shown that Nasdaq has given the San-Francisco-based exchange a reference stock price of $250 which was based on its previous private sales that had the company valued at around $90 billion. If you want to read more about the Coinbase listing, follow the link.
Per the announcement, the listing on Binance is set to go live after Coinbase might have gone live on Nasdaq, however, the specific time for this listing remains unknown.
Binance stock tokens allow the users of its platform to trade traditional stocks in small fractions. The tokens are also majorly transacted in the stablecoin of the exchange, BUSD, i.e. a user wishing to invest in this class of asset would buy and redeem the asset using the stablecoin of the exchange.
Notably, this feature is not currently open to users of the exchange in the United States, mainland China, Turkey, and a list of other restricted jurisdictions. Traders from unrestricted areas would have to pass a know-your-customer (KYC) and other relevant regulatory compliance measures put in place by the exchange and government agencies.
Binance also states that its tokenized stocks would follow the traditional market hours of the stock market, this means that trading of these assets would not be open for 24 hours.