In a blog post issued on October 15, Binance Coin’s issuer, cryptocurrency exchange Binance confirmed it was launching a dedicated exchange-traded product (ETP) on SIX.
Trading will begin today and marks the first physically-backed BNB-based ETP anywhere in the world.
The move follows multiple other ETPs on SIX. For the launch, Binance partnered with local startup Amun, which also helped bring the BNB ETP’s predecessors to market.
“Our partnership with Amun in launching the BNB ETP will provide investors with a new and regulated asset class with a unique dimension to utility tokens, making them more accessible and reliable through a traditional financial infrastructure,” Binance CEO Changpeng Zhao (known as ‘CZ’) commented in the press release.
This will provide traditional investors access with diversified exposure and segue into the global cryptocurrency market and its innovative products. Read More...