Binance to Pay Dividends on Tokenized Apple, IBM Stocks

Binance has announced that it will pay cash dividends to investors holding tokenized Apple and IBM stocks. The dividend payout is scheduled for August 6, and eligible investors must hold AAPLB or IBMB at the snapshot time of 9 a.m. Korea time on August 10.

The dividend will be automatically reinvested into the underlying asset after taxes and fees are deducted, resulting in additional tokenized stock instead of cash. This means that investors who qualify for the dividend will receive more AAPLB or IBMB tokens in their accounts.

The bStocks service, which allows 1:1 conversion into underlying shares, will be temporarily suspended from August 8 to ensure a smooth dividend payout process. Spot trading in the tokenized stocks will continue as usual and will not be affected by the dividend payment.