06.12.2021

Tesla shares will be available for purchase and sale on Binance crypto exchange

Binance, the largest cryptocurrency exchange, has announced a listing of zero-fee tokenized shares to expand access to traditional financial instruments. This is stated in the platform’s press release.

The exchange will be the first to add shares in 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.

“By connecting traditional and cryptocurrency markets, we are building another technological bridge to a more inclusive financial future,” said Binance CEO Changpeng Zhao.

Binance promised to expand the list of tradable tokenized shares as demand. Traders must go through the KYC procedure, as the new product is not available to residents of China, Turkey, the United States and some jurisdictions.

The exchange launched a new product in partnership with investment company CM-Equity AG and Swiss platform Digital Assets AG.

As a reminder, in March 2021, Binance entered into a strategic partnership with the private capital markets platform CapBridge Financial, regulated by the Monetary Authority of Singapore.

Binance is the most popular cryptocurrency exchange in Russia and the CIS, as it has the largest turnover of funds and supports transfers in rubles from Visa / MasterCard bank cards and payment systems QIWI, Advcash, Payeer.

Mike Novogratz: the US authorities are leading the economy to disaster, the country needs a digital dollar

Galaxy Digital CEO Mike Novogratz is known for more than just Bitcoin. He has previously also repeatedly called on the US government to accelerate the development of a digital version of the dollar and introduce crypto regulation.

The billionaire once again expressed his position at the end of this week. He believes that the United States is at risk of lagging behind China technologically if it does not introduce a national digital currency (CBDC) soon.

Novogratz said:

“This is an existential crisis for me, we need a digital dollar.”

He also criticized the policies of the Federal Reserve and the Ministry of Finance. According to the billionaire, the US authorities are leading the economy to disaster, as turning on the printing press and flooding the market with cash will accelerate inflation and undermine confidence in the dollar.

Ultimately, we will face large-scale financial turmoil if we do not revise our course and focus on digitalization in the near future, MarketWatch quoted a businessman as saying.

In early April, on the air of CNBC, Mike Novogratz spoke about the great future of bitcoin, which will continue to take new heights. At the same time, the billionaire did not rule out that, in terms of capitalization, the cryptocurrency could even bypass gold.

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