By
Chimamanda U. Martha
April 18th, 2024
eToro has recently officially become the first global investment platform to list Binance Coin, the native token of Binance exchange.
On Monday, October 29, eToro officially became the first global investment platform, which offers Binance Coin (BNB), the native token of Binance exchange. With the recent adding of BNB, thirteen digital assets can currently be traded on the platform.
As Yoni Assia, the Co-founder and CEO at eToro, commented to the listing:
“Despite sensational headlines about the death of crypto, we continue to believe in the potential for crypto assets, as do our clients who are increasingly looking to diversify their crypto holdings. In response we will continue to add the leading crypto assets to our range and we are pleased to add BNB to the platform.”
The eToro team stays positive to the future of cryptocurrencies and its platform. While being a regulated securities broker, the platform has official rights to list utility tokens as well as security assets. According to Assia, we will soon witness the greatest transfer of wealth ever:
“As a regulated securities broker we have the ability to offer both utility and security tokens on our platform. We support the movement of assets onto the blockchain and the tokenisation of securities. In fact, we believe that in the future we will see the greatest transfer of wealth ever, onto the blockchain.”
Binance represents itself one of the world’s largest crypto exchanges. It issued BNB token in 2017 as an ERC-20 token on the Ethereum blockchain. Since then, BNB became the native token of the platform, which can be used to pay trading fees at a discount and with partner applications. In terms of its further development, Binance exchange plans to design its decentralized exchange Binance Chain with BNB as its core currency.
Changpeng Zhao, the Founder and CEO of Binance, is excited about the recent listing, saying:
“We are honoured and excited to be listed on eToro. With this addition, the Binance coin can reach millions more people, many of whom are more accustomed to the traditional financial industry. As an utility token, we believe in creating long term utility and value. We will continue to do so together with eToro.”
As investors increasingly seek to diversify their crypto holdings, BNB joins Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO, EOS, Cardano and IOTA on the eToro platform.
BNB token will also be added to eToro’s CryptoPortfolio, which enables investors to diversify across all available cryptocurrencies weighted by market cap with just one click.
Like all other cryptoassets, investors choosing BNB on eToro own the real underlying asset, with eToro acting as custodian.