Global Exchange- The resident cryptocurrency of Binance, BNB, is all set to become the base asset to a latest Exchange-Traded Product (ETP). Binance is a now well known a global crypto exchange. New crypto exchange-traded product goes live on SIX Swiss Exchange.
Binance announced that it has collaborated with Amun AG, a Swiss fintech startup, to establish the ETP denominated in US Dollar. The financial product, registered on the SIX stock exchange, can be bought through financial institutions just like a stock.
Hany Rashwan, CEO of Amun, stated that Binance coins worth $20 million would finance the ETP. Since introducing the earliest ETP in 2018, Rashwan said Amun’s eight crypto-ETPs are funded by assets worth $75 million in total. As per a Messari report, BNB has a market cap worth $2.84 billion.
Binance coins are utilized to make the exchange’s transaction payments and for the marketing of undertakings. The globalexchange raised about $15 million after completing its ICO, worth 100 million Binance coins in 2017. The reserve of Binance coins has been capped at 200 million tokens.
Binance announced that it has collaborated with Amun AG, a Swiss fintech startup, to establish the ETP denominated in US Dollar. The financial product, registered on the SIX stock exchange, can be bought through financial institutions just like a stock.
Hany Rashwan, CEO of Amun, stated that Binance coins worth $20 million would finance the ETP. Since introducing the earliest ETP in 2018, Rashwan said Amun’s eight crypto-ETPs are funded by assets worth $75 million in total. As per a Messari report, BNB has a market cap worth $2.84 billion.
Binance coins are utilized to make the exchange’s transaction payments and for the marketing of undertakings. The globalexchange raised about $15 million after completing its ICO, worth 100 million Binance coins in 2017. The reserve of Binance coins has been capped at 200 million tokens.
Comments
Post a Comment