Binance, the popular cryptocurrency exchange company and Swiss-based firm Amun AG, a provider of Exchange-Traded Products (ETPs), today announced a partnership to launch a BNB ETP on the regulated segment of the SIX Swiss Exchange. Trading of the Amun BNB (ABNB) ETP opened today.
BNB, initially created to pay for fees on the Binance exchange which is the largest cryptocurrency exchange in the world by trading volume and users. Additionally, BNB is also used as the native token for the Binance Chain, which is a new blockchain platform launched by the Binance community for creating and transferring tokens in a fast and efficient manner.
In just two years since Binance’s initial USD $15 million token raise, BNB is one of the highest valued utility tokens in the blockchain space, and has a total market capitalization greater than USD $2.5 billion.
The ABNB wraps the BNB utility token into a traditional financial structure, making it more accessible not only to tech-savvy crypto enthusiasts but also to the wider institutional and retail market as a whole.
By listing the BNB ETP on the SIX Swiss Exchange, the world’s tenth-largest exchange, clients can add BNB exposure to their stock portfolios as easily as buying a share in any company, in a traditional manner using a brokerage firm or bank.
“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. This will provide traditional investors access with diversified exposure and segue into the global cryptocurrency market and its innovative products.”
– CZ (Changpeng Zhao), Binance CEO
The ABNB ETP is issued by Amun and administered via the Amun Onyx Platform, the premier issuance and administration platform for crypto exchange-traded products.
To date, Amun has issued eight ETPs with crypto-currencies as the underlying asset with the ambitious goal to bridge the gap between the traditional financial world and the blockchain-based infrastructure.
“It’s been tremendous to watch the fast ascent of Binance from its humble launch in 2017 to the leading position it commands today. We are so excited to partner up with the world’s largest crypto exchange and make their native token accessible to institutional and retail investors in the most secure, cost-effective and regulated Swiss exchange-traded product.”
– Hany Rashwan, Amun CEO