The term “ETP” is an acronym forexchange Tradiant sroduct” which means a product that can be traded on the stock exchange.

Binance, the largest cryptocurrency exchange by trading volume, has announced a new product “ETP” based on BNB and denominated in US dollars.

Thus, Binance’s cryptocurrency “BNB” will serve as the primary asset for a new product to be traded on the exchange in the form of “ETP.”

Binance, in partnership with the “Amun” Technology Company, has developed an “ETP” denominated in US dollars, which was listed on the Swiss SIX Stock Exchange under the name ABNB. The product can currently be purchased through a bank or through an intermediary like other shares traded on the exchange.

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Mr. Hani Rashwan, CEO of Amun, said: to source as follows:

The new “ETP” will be backed initially by $20 million in BNB tokens.

Since launching the first crypto-backed ETP in November 2018, Amon Group has managed 8 crypto-backed ETPs with a total amount of $75 million.

The new regulated “ETP” provides an avenue for investors to acquire one of the best cryptocurrencies in terms of overall market capitalization.

BNB has a market capitalization of $2.84 billion, making it the seventh largest coin, according to coinmarketcap.

The BNB coin is used to pay transaction fees on the Binance trading platform, in addition to the fact that its possession is a condition of the platform’s subscription.

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