Binance Announces Support for 1:1 Exchange of Third-Party Tokenized Stocks to BStocks

According to Twitter, Binance announced that it will support users to deposit eligible third-party tokenized stocks and convert 1:1 to corresponding bStocks. The conversion rate during the campaign period (as of 23:59 UTC on August 26) will be fixed at 1:1. and there is no processing fee. Currently, four assets are supported: Tesla (TSLAon), MicroStrategy (mStron), Coinbase (CoinOn), and Circle (crClon), and versions on the ETH and BSC chains are supported. The converted bStocks can be traded around the clock or redeemed 1:1 for the underlying shares.