BNB is becoming more popular, as the Swiss stock exchange SIX partners with the world’s largest crypto exchange to launch a BNB-based derivative. Users will be able to invest in Binance Coin through a stock exchange product (ETP). According to the exchange’s blog, the new tool was implemented jointly with Amun, an ETP provider.
ETP is a publicly quoted security linked to the exchange rate of the underlying financial asset or index. Amun CEO Hany Rashwan said that ETP will initially be supported by Binance coins worth $20 million, which is almost a quarter of all crypto assets of the company.
“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.” - commented Binance CEO Changpeng Zhao.
According to Binance experts, the new exchange-based instrument will allow introducing the BNB token into the structure of the traditional market, thanks to which not only digital industry players will be able to invest in it.
On October 14, it became known that Binance Coin grew by 30% in two weeks. For more than three months, the token of the popular exchange showed a depreciation, but now it has begun to actively recover in price.