Binance Allows Users to Trade Tokenized Stock Tokens Starting With Tesla

Binance has launched tradable stock tokens with the electric vehicle maker as the first to be listed.

Cryptocurrency exchange Binance is allowing its users to buy fractions of companies’ shares with a new tokenized stock trading service starting with Tesla.

The crypto exchange announced Monday the launch of Binance Stock Tokens, zero-commission digital tokens which qualify holders for returns including dividends.
From 1.35 p.m. UTC April 12, users will be able to buy fractions of Tesla shares which trade at $677 a share at the time of writing.
Users will be able to purchase as little as one hundredth of a Tesla share, with prices settled in Binance USD (BUSD).
The exchange’s native crypto Binance Coin (BNB) has surged more than 25% in the last 24 hours, reaching an all-time-high of $637.44. It is priced at $590.51 at press time. It's not immediately clear what is driving the price of the coin.