Coinspeaker Amun and Binance Launch BNB ETP on Swiss SIX Stock ExchangeBinance has partnered with premier exchange-traded product Amun AG to create an ETP that has the BNB token as the primary asset but listed in US dollar value. This development was announced today by the leading cryptocurrency exchange. Trading of the newly developed product (the Amun BNB ABNB) has started on the Swiss SIX exchange today.Changpeng Zhao CEO Binance indicated this in a tweet as well.A MAJOR step. Now you can trade $BNB ETP on Swiss Stock Exchange (Ticker: $ABNB).Further bridging between #crypto (& #bnb) with the traditional financial world!Thanks to @AmunAG! https://t.co/hK8ku53no6— CZ Binance (@cz_binance) October 15, 2019As part of the unique partnership which will see further expansion of the utility use-case scenario which has also been expanding exponentially within the crypto space itself. BNB was launched in 2017 as a token that will be used for payment for the charges on the Binance exchange. It, however, has evolved and has many uses in a myriad number of ways. One of these ways is the use-case scenario in which fees are also paid in BNB tokens on Binance chain which is a decentralized order settlement and digital asset matching system and based on its own blockchain.Within the last two years, BNB’s valuation has grown from $15 million to $2.5 Billion and is steadily gaining ground as one of the fundamental cryptocurrency tokens that have a wide number of uses. Today, BNB is up to two spaces from the tenth position and may even climb further giving it more exposure.The ABNB follows the regular norms of exchange-traded products with the only difference between it and other ETPs are that the ABNB has as its underlying asset the cryptocurrency token BNB. The great thing about this is that the ETP can be accessed by just about anybody. The institutional guys can purchase the asset and keep it in their portfolio and the retail investor as well. The listing of the ABNB on the Swiss Six Exchange (no 10. of all exchanges in terms globally) has made the process of purchase the same in terms of way and manner that other instruments can be purchased.ABNB’s administration occurs on the Amun Onyx platform. Since 2018, Amun has launched eight ETPs which are all doing well as an asset class.In what many have seen as an innovative way to get people to purchase cryptocurrencies easily, safely and securely, Exchange Traded Products can give the hedge required against the volatility that cryptocurrencies often undergo due to the novel nature of the market.Binance has been quite excited naturally about the partnership and is keen to make the progress of the partnership. Binance CEO indicated this when he said:“Our partnership with Amun in launching the BNB ETP will provide investors with a new and regulated asset class with a unique dimension to utility tokens, making them more accessible and reliable through a traditional financial infrastructure,”He further stated:“This will provide traditional investors access with diversified exposure and segue into the global cryptocurrency market and its innovative products.”Sources further mention that ABNB has initially $20 million worth of BNB tokens as the underlying asset value which is equivalent to about 25% of Amuns’ BNB stash. The eight ETPs have $75 million total cryptocurrencies which serve as the underlying assets.Amun and Binance Launch BNB ETP on Swiss SIX Stock Exchange
Saudi Aramco to Offer Less than 1% to Individual Investors in Its IPO
Monday November 11, 2019
Coinspeaker Saudi Aramco to Offer Less than 1% to Individual Investors in Its IPOIn what seems like a preference for institutional investment, Saudi Arabia’s State Oil Company Aramco in its prospectus has indicated offering of less than 1% of the shares on offer to individuals reports show. According to the prospectus, the initial public offering […]
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