Tesla Token is simply Tesla Tokenized Stock Token which is pegged to Tesla Stock Price. Just as BTC is for Bitcoin and ETH is for Ethereum, “TSLA” is the ticket symbol for Tesla Token.
TSLA Token was the first Binance Stock token listed on the exchange alongside trading pair, TSLA/BUSD.
However, this token was launched to allow crypto users to trade stocks in the form of Token at zero commission fee structure.
Although, a depository portfolio with underlying securities backs all Binance Stock tokens. Every Tesla token holder gets economic returns on the underlying shares alongside dividends.
The concept of the Binance Stock Token not only adds crypto investors into the stock market but also adds stock investors into the Crypto market.
This could be the biggest step towards joining the growing and established investing options of the world.
So, there’ll be no need for a physical share certificate as investors wouldn’t need to purchase full traditional shares and no requirement of a physical share certificate. However, Binance clarifies that Stock token and equity stocks will be equal.
TSLA trading will differ from the normal crypto trading of Bitcoin or other coins. However, one can buy Tesla Stock Tokens with provided trading pair in the U.S market.
Binance is not the first platform to start trading Stock tokenized Tokens because Bittrex & FTX trading platform first introduced this concept into market.
Hence, TSLA token is available for trading on the respected platform.
As of writing, the 1 TSLA Token is worth $1.17 USD, but reports have it that it started at $700 when it first launched in 2021 on Binance.
Binance is considered the biggest crypto exchange platform currently handling billions worth of crypto trading on a daily basis.
So, the bridge between crypto and the traditional market was a major highlight for weeks in the investment field.