Cryptocurrency exchange Binance lists the “Coinbase” stock symbol for trading today
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Answer Cryptocurrency exchange Binance lists the “Coinbase” stock symbol for trading today
Today is a special day in the cryptocurrency market, as Coinbase, one of the most prominent crypto companies, prepares for a direct listing on the Nasdaq exchange.
announced Binance hours ago announced the inclusion of a symbol and a digital currency representing the “Coinbase” stock for trading on its platform.
The time is unknown, but Binance has clarified that the listing process will follow directly from the public offering of Coinbase shares on the Nasdaq Stock Exchange.
The cryptocurrency representing Coinbase will allow Binance users to trade Coinbase shares on Binance.
Binance started providing stock cryptocurrencies earlier this week, announcing the inclusion of Tesla, which we covered in a detailed article:
Read:What are the reasons for the price of Ethereum gas to rise again to its highest level in 14 weeks?
Now it is possible to trade Tesla shares as digital currencies on the Binance platform
At the time, Binance said it would list more stock cryptocurrencies based on market demand.
The cryptocurrency representing the Tesla stock saw a trading volume of $6.7 million within three days of being listed on Binance.
Cryptocurrencies for trading on Binance are listed against the Binance stablecoin “BUSD”, which means that users can buy and redeem them via Binance.
Traders interested in trading these currencies are required to pass KYC and other relevant compliance procedures.
Residents of the United States, China, Turkey, and other restricted jurisdictions are also prohibited from buying equity cryptocurrencies on Binance.
Since the cryptocurrency representing stocks follows the stock market, which has specific business hours, Binance follows the traditional market hours for trading these currencies, meaning that the Coinbase cryptocurrency will follow the business hours of the NASDAQ exchange.
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