Summary
- Binance said it plans to list a U-margined perpetual futures contract with Tesla (TSLA) as the underlying asset.
- The Tesla perpetual futures product will offer leverage of up to 5x.
- The outlet said that discussions on bringing the crypto-asset market into the regulated financial system are gaining momentum and that tokenization has emerged as a key keyword in traditional finance.
Binance is reintroducing Tesla-related product trading for the first time in nearly five years.
According to BlockBeats, a crypto-asset (cryptocurrency) media outlet, Binance said on the 26th that it plans to list a U-margined perpetual futures contract based on Tesla (TSLA) as the underlying asset. The product offers leverage of up to 5x.
This marks Binance’s first Tesla-related trading product since 2021. At the time, Binance listed Tesla as the first supported name via its tokenized stock trading service. The product was a synthetic asset settled in BUSD and was not structured to trade the actual shares.
Binance subsequently phased out its tokenized stock trading service starting July 16, 2021, in response to changes in the regulatory environment.
The outlet reported that “now, nearly five years later, discussions around incorporating the crypto-asset market into the regulated financial system have gained momentum, and tokenization has emerged as one of the most closely watched keywords in traditional finance.” It added that debate and experimentation around tokenized stock products are expanding again, centered on centralized exchanges (CEXs) and decentralized exchanges (DEXs).
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
