Binance becomes the first exchange to list Blockstack

Binance listed Blockstack ($STX) earlier today, with trading set to commence on Oct. 25. This marks the first time STX will be available on an exchange. Binance plans to offer Blockchain only on its flagship exchange, thereby barring U.S. investors from accessing the new listing.

Why it matters:

• Price discovery: It will be interesting to see how the market values Blockstack tokens as it transitions from private to public markets. Blockstack’s SEC-approved Reg A+ offering sold STX for $0.30 each, and an earlier private round (December 2017) priced tokens at $0.12. In recent months, public token listings have not been favorable to high-profile, investor-backed projects (see Hedera Hashgraph ($HBAR)).
• Blockstack, a U.S.-based company, selecting Binance, a Malta-based exchange that geo-blocks U.S. investors, is another example of projects leaning towards international companies and markets to avoid U.S. regulatory scrutiny.