Binance announces support for third-party tokenized stocks to be converted 1:1 into bStocks

According to the official announcement, Binance has announced support for users to deposit eligible third-party tokenized stocks and convert them 1:1 into corresponding bStocks. During the event period (until August 26 at 23:59 UTC), the conversion rate is fixed at 1:1 and is free of charge.

Currently, it supports four assets: Tesla (TSLAon), MicroStrategy (MSTRon), Coinbase (COINon), and Circle (CRCLon), with versions available on both the ETH and BSC chains. The converted bStocks can be traded around the clock or redeemed 1:1 for the underlying stocks.

Binance stated that the deposited third-party tokenized stocks can only be held or converted into bStocks and cannot be used for spot trading.