The Binance cryptocurrency exchange has launched a quoted exchange (ETP) product for Binance Coin (BNB) in a Swiss securities exchange.
Binance Coin goes after professional investors
Binance confirmed that the BNB ETP would be listed on the SIX exchange as of Tuesday.
The ETP is carried out through a partnership with Amun, a Swiss startup that has already put several ETP on the market.
The investment tool, which presents physically backed contracts, is something new for BNB, which is Binance’s internal cryptocurrency token. In the future, more options may appear for traders.
Binance CEO Changpeng Zhao, known as CZ, commented in the press release:
“Our partnership with Amun in the launch of the BNB ETP will provide investors with a new class of regulated assets with a unique dimension of public service tokens, making them more accessible and reliable through a traditional financial infrastructure”.
BNB, currently the seventh largest cryptocurrency by market capitalization, increased around 4.5% after the latest news.
SIX expands its cryptointegration
SIX began marketing the world’s first multi-currency ETP at the end of 2018. The organizers, including Amun, have remained optimistic about their attractiveness to investors, despite the various fortunes that have been shown in Crypto markets since then.
Earlier this month, Amun partnered with Bitcoin Suisse to launch an ETP based on the two largest cryptocurrencies, Bitcoin (BTC) and Ether (ETH).
Also published on Medium.