Microsoft, Apple and Microsoft Strategy stock tokens listed on Bainance
Bainance Exchange announced that it will list shares of Microsoft, Apple and Microstrate until the end of April.
Users of this exchange can buy microstrate stock from today. Apple and Microsoft stock tokens will be listed on April 28 and 30, respectively.
Since the beginning of this month, Bainance has started listing stock tokens. Tesla was the first company to list the exchange in the form of a token. Bainance has even listed the stock of its rival, Kevin Base.
All of these token stocks are purchased with the Stable Kevin Bainance (BUSD).
While these products are also offered by FTX, Bainance offers free stock trading.
It is worth noting that these tokens can be traded only during the opening hours of the US stock market.
Bainance is under new legal scrutiny because of its new product, which is supposed to democratize stock trading.
On April 22, the Financial Times reported that the UK Office of Financial Conduct had begun working with an exchange to determine whether the product was covered by UK securities law:
"We cannot comment specifically on our confidentiality obligations. Basically, the following applies: If the tokens are transferable, can be traded in a crypto exchange, and are equipped with economic rights such as dividends or cash settlements, they represent securities and are subject to the issuance of a stock listing. ”
Turkish, American and Chinese Bainance users have been banned from trading these tokens.