Crypto exchange Binance (CCC:BNB-USD) is shooting its shot on the day of the historic Coinbase (NASDAQ:COIN) IPO. Investor interest in crypto is at an all-time high, and today marks the permanent crossover between digital currency and traditional stocks. Not being a company to watch opportunity pass, Binance has capitalized on the chance to take a slice from the Coinbase pie. The company will soon be offering COIN stock on its exchange… in a unique way. On Wednesday afternoon, users will have access to the new Binance Coinbase stock token.
On Monday, Binance announced that it is providing users with a chance to buy Tesla (NASDAQ:TSLA) tokens. The announcement did wonders to boost Binance (BNB) price predictions. Now investors are betting that a second token option — especially of this magnitude — will do the same.
With all of this in mind, here’s the scoop on everything you need to know to buy the Binance Coinbase stock token this afternoon:
- Binance’s tokenized stock options are brand new this week.
- The tokens are commission-free ways to trade traditional stock in crypto form.
- The first token, Tesla, has been trading in high volume since it was listed Monday.
- Binance’s new token offerings allow users to invest money in real stocks.
- Tokens represent an underlying depository portfolio of TSLA shares.
- The tokens can be bought as fractions, allowing users to own as little as 1/100th of a TSLA share.
- Binance’s COIN token will be its second tokenized stock option.
- The Coinbase IPO later today will likely lead to a very high demand of the tokenized COIN shares.
- The coins are listing with a reference price of $250, just like the COIN stock will be later today.
- Tokenized stock options are transacted using Binance’s BNB coin.
- Binance does not plan to slow down tokenized stock listings. The company is planning on adding more stock tokens in the near future.
The Bottom Line on the New Binance Coinbase Stock Token
Ahead of the Binance Coinbase stock token launch, BNB is trading for $557.97. Investors should keep a close eye on the coin’s value through the day, as it will likely spike after the launch.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.