In a recent development, Binance has introduced spot trading for Strategy's STRC perpetual preferred stock. This move coincides with the company's recent sale of 3,588 BTC for a substantial $216 million, contributing to an increase in its USD reserves, which now stand at $2.55 billion.
As announced on July 6, this new listing marks Binance's continued expansion of its tokenized stock offerings on the exchange's stock platform. The launch of perpetual futures linked to the same security also took place recently.
Details of the Stock Listing
With the addition of STRC, Binance now offers several new stock listings, including:
- Adapti Inc. (ADTI)
- Antalpha Platform Holding Co. (ANTA)
- Astronics Corp Class B (ATROB)
- Cerebras Systems (CBRS)
- Tema Memory ETF (DISK)
- Tuttle Capital Pure Play Photonics ETF (FOTO)
- PLUS Korea Defense Industry Index ETF (KDEF)
- Kurv Memory Select ETF (KMEM)
- Quantinuum Inc. (QNT)
Investors can enjoy 24/5 trading access, zero commissions, and over 7,000 stocks to choose from.
Strategic Financial Moves
This listing is part of Strategy's ongoing approach to finance its Bitcoin acquisition strategy. As outlined in a press release from Strategy on July 6, the sale of Bitcoin was primarily allocated for funding Digital Credit dividends rather than curbing its overall Bitcoin holdings.
Michael Saylor, the Executive Chairman of Strategy, stated on social media that the firm currently retains 843,775 BTC in addition to its significant cash reserves. This approach signifies the company's commitment to maintaining a robust Bitcoin portfolio while also meeting dividend obligations tied to its credit offerings.
Earlier this year, Strategy had also sold 32 BTC to facilitate preferred stock distributions. This move received attention due to the company’s long-term focus on accumulating Bitcoin.
