Binance ends support for tokenized shares
The popular crypto exchange Binance is ending support for all tokenized shares on its platform. The exchange team made the announcement earlier today and also explained that the move was intended to shift their "commercial focus to other product offerings."
Holders of exchange tokens on Binance must manually sell stock tokens by October 14 of this year. In addition, any tokenized share positions that remain open after the 14th will be closed on October 15th at 13:30 UTC.
Equity token holders residing in the European Economic Area (EEA) have the additional option of transferring their positions to CM-Equity AG, which is developing a portal for this particular process. The Binance team announced that the portal is scheduled to open approximately two to four weeks before October 15, 2021. CM-Equity AG will request additional KYC verification measures.
