Cryptocurrency exchange Binance will stop trading in tokenized shares

16-07-2021

Cryptocurrency exchange Binance has notified investors about the stoppage of tokenized shares trading. Traders have the opportunity to close positions using this asset until 14.10.2021, after which transactions will close automatically. 

The world’s largest cryptocurrency exchange announced the start of trading of Tesla tokenized shares in April of this year. Then securities of other major companies (Apple, MicroStrategy, Microsoft, etc.) were added to the platform. Owners of such tokens can receive economic benefits from the ownership of shares, including potential dividend payments. 

According to Binance, the cryptocurrency exchange plans to focus on other products of the online platform. Investors from the European Economic Area and Switzerland will be able to hold securities on the service of investment organization CM-Equity AG.

Recently, Binance has been attracting the attention of financial regulators. Some banks have even restricted access to some financial transactions for the crypto-exchanges clients.

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