Binance said bStocks will distribute cash dividends to holders of the tokenized ASMLB and NOKB securities, BlockBeats reported. After withholding taxes, fees and other costs, the net dividend will be reinvested in additional whole or fractional units of the corresponding securities and delivered to eligible users in ASMLB or NOKB tokens.
Snapshot and temporary conversion pause
The eligibility snapshot is scheduled for Oct. 27 at 00:00 UTC. Binance will pause 1:1 conversion between ASML or Nokia shares and the related bStocks, along with ASMLB and NOKB deposits and withdrawals, from Oct. 26 at 23:30 UTC until the distribution is complete. NOKB/USDT and ASMLB/USDT trading will continue.
Tokenized securities do not convey direct ownership
Binance said bStocks are tokenized securities and do not represent direct ownership of the underlying listed-company shares. The products are offered only to eligible users in approved jurisdictions.