Tesla’s stock (TSLA) will be the very first to trade as a token on Binance’s exchange so that users can buy fractional shares using cryptocurrency.

Over the last few months, Tesla has made some move in the rapidly growing cryptocurrency area.

The car manufacturer invested $1.5 billion in Bitcoin in February and started accepting Bitcoin as payment for its electric cars and trucks last month.

The move has actually assisted improve the rate of Bitcoin and put an even bigger spotlight on cryptocurrency.

Now, Tesla is getting some love back from the crypto neighborhood, which now has a brand-new method to buy the electrical car manufacturer.

Binance, among the world largest’s cryptocurrency exchanges, revealed today the launch of its Zero-Commission, Tradable Stock Tokens– starting with the first token being connected to Tesla’s stock.

The business described this new stock token item:

“Binance Stock Tokens are zero-commission digital tokens completely backed by a depository portfolio of underlying securities that represents the impressive tokens. Holders of stock tokens receive economic returns on the underlying shares, consisting of possible dividends.”

The cost of the TSLA token is going to be linked to BUSD, which is a cryptocurrency connected to the value of the United States dollar:

The very first Binance Stock Token to be noted is Tesla Inc. (TSLA). Trading for the TSLA/BUSD set is scheduled to open at 2021-04-12 1:35 PM (UTC). Users will have the ability to trade fractional Tesla stock on the Binance site.

Binance didn’t describe why it chose to launch the platform with Tesla’s stock initially, however the automaker’s stock often ranks as the most popular on stock trading platforms for specific financiers, like Robinhood in the US and Wealtsimple Trade in Canada.

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https://electrek.co/wp-content/uploads/sites/3/2021/04/Screen-Shot-2021-04-12-at-12.36.17-PM.jpg?resize=1024,322 1024w, https://electrek.co/wp-content/uploads/sites/3/2021/04/Screen-Shot-2021-04-12-at-12.36.17-PM.jpg?resize=1536,484 1536w, https://electrek.co/wp-content/uploads/sites/3/2021/04/Screen-Shot-2021-04-12-at-12.36.17-PM.jpg?resize=2048,645 2048w, https://electrek.co/wp-content/uploads/sites/3/2021/04/Screen-Shot-2021-04-12-at-12.36.17-PM.jpg?resize=350,110 350w, https://electrek.co/wp-content/uploads/sites/3/2021/04/Screen-Shot-2021-04-12-at-12.36.17-PM.jpg?resize=1600,504 1600w” alt =””/ > The TSLA/BUSD token has actually already begun trading on the platform today. Among the advantages of the new item is that investors can get fractional shares of Tesla’s stock token.

Tesla’s stock has increased so much in recent years that it has ended up being harder for smaller investors to buy the stock.

The company did a 5 for 1 stock split last year to make its stock less expensive, however it has actually since surged once again, and it is now trading for around $700 per share.

If you have an interest in this new method to buy Tesla, you can sign up to utilize Binance through this link. You should do your own due diligence before trading cryptocurrency and invest at your own danger.

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