Binance Wallet introduces tokenized stocks trading with fees as low as 0%

Key points

  • On November 25, the crypto exchange revealed the inclusion of onchain stocks in Binance Wallet.
  • The move marks Binance's integration of TradFi assets in Web3 via tokenization.
  • Previously, Binance offered stock tokens, but ceased support in 2021.
Rada Mateescu

Binance marked an important milestone for the integration of TradFi assets into Web3 via tokenization. On November 25, the crypto exchange revealed that it had integrated onchain stocks in Binance Wallet.

This is not the first time Binance has integrated stock-related products on its platform, as previously, the exchange provided support for stock tokens, which ceased in 2021.

Binance Wallet Onboards Onchain Stocks

In an official announcement on November 25, Binance revealed the availability of onchain stocks via Binance Wallet. To trade tokenized stocks, users have to follow these steps:

  • Sign in to their Binance account or sign up on the exchange to create a new account.
  • Go to the Wallet section.
  • Tap on Markets.
  • Select the Stock section and explore tokenized stocks.

TRADE TOKENIZED STOCKS

According to Binance’s official notes, the onchain stocks can be traded with minimum fees, as low as 0%. The new trading option is currently rolling out to Binance users globally.

As highlighted by Lookonchain, Binance Wallet’s stock section has currently incorporated two types of tokenized assets:

  • xStock, using a synthetic asset model (stock symbol suffixed with x)
  • Ondo Tokenized, using a broker-dealer model (stock symbol suffixed with on)

The tokenized stock of Meta Platforms listed on Binance Wallet is METAon (on BSC and Ethereum).

Other tokenized stocks on Binance include the tokenized stock of Snowflake, a cloud data and warehousing company, SNOWon, the tokenized stock of a global CRM customer management and cloud software company, CRMon, and crypto-related stocks like AMBRx, the tokenized stock of Amber International, a wealth management company under Amber Group, and RIOTon, the tokenized stock of Riot BTC miner. HOODon, the tokenized stock of Robinhood is also listed on Binance.

TRADE TOKENIZED STOCKS

Previously, Binance allowed trading for stock tokens on the main platform, but it ceased support in July 2021, announcing the migration to CM-Equity AG for EEA users.

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Romanian journalist turned Bitcoin advocate since 2017, promoting financial freedom and principled innovation - learn, adapt, build, defend truth. Embracing the future without compromising human values. Featured in Bloomberg, backed by Bitcoin ecosystem leaders, building on crypto.ro.