Binance Lists SK Hynix Tokenized Security SKHYB on Spot Market

Binance has announced that it will list SK Hynix's tokenized security, SKHYB, on its spot market. The listing is set to take place at 10:30 p.m. Korea time on July 13, with deposits and withdrawals for the security beginning at 11:30 p.m. Korea time on the same day. Binance will also offer a zero maker-fee promotion for the SKHYB/USDT pair from the time of listing through Sept. 1 at 8:59 a.m. Korea time.

The tokenized security, SKHYB, is tied to SK Hynix shares and offers tokenized economic rights linked to the underlying securities held by the issuer. This listing signals an expansion of Binance's product offerings, but it may not necessarily lead to direct net inflows into the crypto market, according to a forecast trend report.

The report predicts that if tokenized trading gains traction, market sentiment is expected to improve. However, if a significant shift of existing crypto funds occurs, the market is projected to trade sideways or decline. In the long term, the listing of equity tokens on major exchanges is seen as an opportunity for the crypto market to expand its role as a trading infrastructure and asset issuance platform.