Crypto exchange Binance said it is stopping support for purchasing tokens linked to stocks barely three months after starting them.
- The embattled crypto exchange announced Friday that stock tokens are unavailable for purchase on its website effective immediately, and support for such tokens will end on Oct 14.
- Binance said the decision had been made to allow it to focus on other products.
- The stock token offering was introduced in April, allowing customers to buy fractions of shares in companies, starting with Tesla and followed quickly by Coinbase.
- MicroStrategy, Microsoft, Apple were added shortly after.
- However, it did not take long for regulators to raise their eyebrows, with the financial watchdogs of the U.K. and Germany both expressing concern in the weeks following.
Source: Coindesk
