Binance supports buying and selling bStocks directly with up to 49 fiat currencies
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AT A GLANCE
According to PANews, Binance now supports buying and selling bStocks tokenized stocks directly with up to 49 fiat currencies, with specific options varying by region.
Article
Binance Supports Direct Buying and Selling of bStocks Tokenized Stocks with 49 Fiat Currencies
PANews November 11 news, according to an official announcement, Binance Convert and the Buy Crypto/Sell Crypto pages now support purchasing bStocks tokenized stocks directly with up to 49 fiat currencies. Users can buy via fiat balance, bank card, Apple Pay, or Google Pay, and can also sell bStocks directly for fiat without first converting to cryptocurrency. Supported fiat currencies include USD, EUR, British pound, Japanese yen, Hong Kong dollar, New Taiwan dollar, Australian dollar, Canadian dollar, and more. More currencies will be added later, and the specific options available vary depending on the user's country or region. bStocks are issued by BTech Holdings Limited, an affiliated company of the Binance Group, and each token is backed 1:1 by the underlying stock held by a regulated custodian.
PANews reported on November 11 that, according to an official announcement, Binance's Convert and Buy/Sell Crypto pages now support using up to 49 fiat currencies to directly purchase bStocks tokenized stocks.
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Users can buy using fiat currency balances, bank cards, Apple Pay, or Google Pay, and can also sell bStocks directly for fiat currency without first converting to cryptocurrency.
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Supported fiat currencies include USD, EUR, British pounds, Japanese yen, Hong Kong dollars, New Taiwan dollars, Australian dollars and Canadian dollars, among others, with the specific available options varying depending on the user's country or region.
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The report stated that more currencies will be added in the future.
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According to reports, bStocks are issued by BTech Holdings Limited, an affiliate of the Binance Group, and each token is backed 1:1 by the underlying stock held by a regulated custodian.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This feature allows users to directly purchase bStocks with fiat currency and also sell them to directly receive fiat currency, eliminating the step of first converting to cryptocurrency. The report describes bStocks as tokenized stocks backed 1:1 by custodied stocks, but does not specify the exact rights of holders or redemption arrangements.
Why it matters to readers
The main changes are in the buying and selling paths: direct conversion is now possible between fiat currencies and bStocks. However, “up to 49” does not mean that users in every region can access all currencies and payment methods.
First confirm the fiat currencies and payment methods actually available in your region, and note that the "1:1 stock backing" mentioned in reports does not specify what stock-related rights token holders enjoy.
Risks and unknowns
The provided material is a paraphrase by PANews, and no official announcement text that can be directly verified has been provided; the functionality and support arrangements have not yet been independently verified.
The complete list of supported regions, the list of 49 fiat currencies, and the applicable scope of each payment method are not provided.
Transaction fees, price formation methods, holder rights, and redemption arrangements were not specified.
The name of the custodian institution and the verification materials supported for stock 1: 1 are not disclosed.
Related Developments
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The specific timing for adding more currencies was not specified.
Related concepts
Legal tender
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