Bitcoin exchange Binance has announced a listing of zero-fee tokenized shares to expand access to traditional financial instruments.
The exchange will be the first to add shares of electric car maker Tesla (ticker: TSLA). Users will be able to buy/sell tokens, which give the right to a part of the company’s real securities.
The minimum deal size will be one-hundredth of a token representing the same share of Tesla shares.
“Through connecting traditional and crypto markets, we are building another technological bridge for a more inclusive financial future,” said Binance CEO Changpeng Zhao.
Binance promised to expand the list of tradable tokenized shares as demand grows. Traders must go through the KYC procedure, as the new product is not available to residents of China, Turkey, the United States and some other jurisdictions.
The exchange launched a new product in partnership with investment company CM-Equity AG and Swiss platform Digital Assets AG.