In a first, cryptocurrency trading platform eToro has partnered with Binance to list its Binance Coin (BNB) Token on its investment platform.
It becomes the thirteenth cryptocurrency to be added to eToro’s platform which is also the first to offer the BNB token.
eToro is a regulated, multi-asset investment platform based in Europe with over ten million registered users. It now offers its investors the unique ability to trade in both utility and security tokens on its platform.
BNB is the native token of Binance exchange and was issued as an ERC-20 token following its ICO in 2017. The coin is primarily used to pay trading fees on the platform at lower rates and with other partner apps within the Binance ecosystem.
The exchange is planning to build a DEx (Binance Chain) that will be powered by the BNB coin. There are currently 200 million BNB coins and Binance will buy and burn the BNBs until there are only 100 million BNB left in circulation.
Binance CEO, Changpeng Zhao talked about being listed on eToro
“With this addition, the Binance coin can reach millions of more people, many of whom are more accustomed to the traditional financial industry. As a utility token, we believe in creating long-term utility and value. We will continue to do so together with eToro.”
Blockmanity’s Take
The Binance and eToro partnership is a pretty big deal with both exchanges ruling the cryptocurrency markets. Binance has been in the news quite a lot with their charity partnering with United Nations and their low trading fees. We’ll keep covering the news on Binance. Stay tuned…
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