$Family “Tesla on Binance”?
Binance is a leading cryptocurrency exchange where you can typically buy or sell cryptos like Bitcoin, Ethereum, BNB, etc. Additionally, Binance launched a product called stock tokens, and Tesla (TSLA) was the first stock they listed in tokenized form.
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Important note: According to recent reports, Binance has removed or suspended trading of tokenized stocks on its platform, so today you cannot buy or sell those tokens currently.
What exactly was Tesla (TSLA) on Binance?
1. Tokenized stock
Binance created a digital token that represented Tesla's stock (a company listed on NASDAQ under the symbol TSLA).
Each token represented a portion of a real share that was backed by authentic shares held by third parties.
👀 This means it was not a cryptocurrency, but a digital representation of a real stock within Binance.
How did the market work?
2. Trading with BUSD
The Tesla token could be bought or sold using BUSD, which is a stablecoin (a crypto that always equals ~1 USD).
3. Fractionalization
You didn't have to buy a full share (which can cost hundreds of dollars), you could buy small fractions (up to 1/100 of a share)
Example: If a share cost $700 USD, you could buy only the equivalent of $7 USD.
4. Trading hours
Trades were only executed when the traditional stock market (NASDAQ) was open, unlike cryptos which can trade 24/7.
Did you have rights to real shares?
Yes — if someone owned these tokens, theoretically they could have similar benefits to real stock owners, such as: ✔ Possible dividends
🎖️Participation in future corporate events
🎖️ Value tied to the real price of TSLA
👉 But it was not the same as owning shares directly in a traditional brokerage account (like in eToro or a stock broker).
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