Cryptocurrency exchange Binance is allowing its users to buy fractions of companies’ shares with a new tokenized stock trading service starting with Tesla.

• The crypto exchange announced Monday the launch of Binance Stock Tokens, zero-commission digital tokens which qualify holders for returns including dividends.
• From 1.35 p.m. UTC April 12, users will be able to buy fractions of actual Tesla shares, which trade at $677 a share at the time of writing.
• Users will be able to purchase as little as one-hundredth of a Tesla share, with prices settled in Binance USD (BUSD).
• The exchange’s native crypto Binance Coin (BNB) has surged more than 25% in the last 24 hours, reaching an all-time high of $637.44. It is priced at $590.51 at press time. It's not immediately clear what is driving the price of the coin.
• It’s not the first tokenized stock play in crypto land: Terra Labs’ Mirror Protocol went live last December.
• But where Mirror uses synthetic stocks (or tokenized representations of actual equities), the Binance product is “backed by a depository portfolio of underlying securities” managed by an investment firm in Germany.

See also: Binance Faces CFTC Probe Over US Customers Trading Derivatives: Report