Eligible AAPLB and IBMB holders on the Aug. 10 snapshot will receive reinvested bStocks allocations, while Binance temporarily suspends its 1:1 share conversion service around the payout.
Binance said on Aug. 6 that it will support cash dividend distributions for holders of Apple and IBM tokenized stock bStocks. After taxes and fees are deducted, the dividends will be automatically reinvested into the underlying securities, and eligible users will receive the payout as additional AAPLB and IBMB tokenized stock rather than cash. Investors must hold AAPLB or IBMB at the snapshot scheduled for 9 a.m. Korea time on Aug. 10 to qualify. Spot trading in the tokenized stocks will continue as usual, while Binance's bStocks 1:1 conversion service into the underlying shares will be temporarily suspended from Aug. 8 and resume after the dividend payment process is completed.