Binance opened spot trading in APPB, an AppLovin Corporation-linked certificate, on Oct. 28, expanding its equity-linked lineup while giving eligible users exposure without direct ownership of the company’s shares.
The APPB/Tether (USDT) pair opened at 8 a.m. ET (12:00 UTC). Binance said the addition would broaden trading choices. It describes bStocks as certificates unaffiliated with the companies whose shares they reference.
Binance excludes U.S. persons from bStock trading wherever they live. It also bars anyone physically in the United States. Those restrictions apply to APPB; AppLovin’s Class A shares trade separately on Nasdaq under APP.
The exchange had announced APPUSDT, a perpetual futures contract tied to AppLovin’s Class A stock, with a planned July 10 start. Its terms call for Tether settlement, trading around the clock and leverage capped at 25 times.
The identifiers mark different instruments: APP for the share, APPB for the bStock and APPUSDT for the futures contract. A quote in one market cannot be used as the price in another, and APPUSDT’s leverage limit does not apply to APPB. EconoTimes has previously covered a Binance futures contract tied to Alibaba’s U.S.-listed ADR.
AppLovin published third-quarter results on Nov. 4, after APPB began trading. Revenue rose 55% from a year earlier to $2.185 billion, while net income increased 72% to $1.439 billion. In the year-earlier quarter, revenue was $1.41 billion and net income was $835.5 million. AppLovin reported diluted earnings per share of $4.30.
For the fourth quarter, AppLovin projected adjusted EBITDA of $1.995 billion to $2.025 billion on revenue of $2.365 billion to $2.395 billion.
Binance’s zero maker fee promotion for eligible bStock trading pairs ends at 6:59 p.m. ET (23:59 UTC) on Nov. 30.
