Crypto Exchange Binance to List the Coinbase Stock Token COIN

Cryptocurrency exchange Binance will be listing Coinbase’s stock token “COIN” later today.

• In the Wednesday announcement, Binance said after it lists the token, the COIN/BUSD trading pair will be launched, allowing its exchange users to trade fractional Coinbase shares.
• Coinbase’s stock has a reference price of $250 per share, giving the exchange a pre-trading valuation of $66.5 billion.
• “Binance will continue to respond to market demand by listing more stock tokens and features. Trading of stock tokens will follow traditional exchange hours and is not available for residents in Mainland China, Turkey and other restricted jurisdictions,” Binance said.
• On Monday, Binance said it is now allowing its users to buy fractions of companies’ shares with a new tokenized stock trading service, starting with Tesla.

Read more: Why Binance Coin Hit All-Time High (and $86B Valuation) Ahead of Coinbase Listing