Binance Opens bStocks Collateral to Every Eligible User as Tokenized Stock Volume Tops $30 Billion
A share of Tesla sitting in a brokerage account does one thing: it goes up or down with Tesla. From today, an eligible Binance user holding the tokenized version, TSLAB, can do three. They can borrow USDT against it. They can open a TSLAUSDT futures short against it to hedge the downside. They can do both at once from the same Portfolio Margin account without posting a single extra dollar of collateral. Binance is extending bStocks collateral, which since late August had been available only to VIP 3 accounts and above, to every eligible user on the exchange.
bStocks went live on 12 June with five tickers, crossed $30 billion in cumulative trading volume in under 90 days and doubled in outstanding value between mid-July and early September to $678 million, a whisker behind Kraken's xStocks. A product that took three months to become one of the two largest...
Copyright of this story solely belongs to hackernoon.com. To see the full text click HERE
