Binance has removed stock tokens from its platform with users given three months to dispose of their holdings, the global cryptocurrency exchange announced in a statement.
- Stock tokens are no longer available for purchase on the platform, and will no longer be supported after October 14, 2021. Users are given 90 days to sell or close, as all stock token positions will be closed on October 15, 2021.
- Users in the European Economic Area and in Switzerland may choose to transition their stock token holdings to CM-Equity AG, once a portal is established. It is scheduled to be open two to four weeks before the October 15 deadline.
- Binance said the removal is in line with the shift of its commercial focus to other product offerings, as the company continually evaluates its products to meet the needs of users.
All stock tokens listed on Binance are products issued and sold by Germany’s CM-Equity AG.