New Binance Coin Product For Institutional Investors, Supported On The Swiss Stock Exchange
Institutional investors have been targeted by the crypto space for a while now and there are a few moves that seem to be successful in this direction.
The crypto industry is gaining more and more interest from the big players’ part.
It’s been reported that the Swiss Stock Exchange started to trade the very first physically-backed Binance Coin (BNB) exchange-traded product (ETP) under the ticker ABNB.
BNB ETP was launched by Binance and Amun
The BNB ETP was launched by Binance and Amun, which is a fintech leader in exchange-traded products.
This is reportedly targeting institutional investors who want to get exposure to cryptos but in a safer traditional financial infrastructure.
According to the latest data coming from the Daily Hodl, investors will have the ability to buy the BNB ETP on Switzerland’s principal stock exchange using a brokerage or bank.
This marks an important milestone for the crypto industry and the reason is not too hard to guess: it bridges the gap between the legacy financial system and the emerging digital economy that we see today.
Binance CEO Changpeng Zhao said the following:
“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 continued and said: “This will provide traditional investors access with diversified exposure and segue into the global cryptocurrency market and its innovative products.”
Binance makes an announcement about XRP
Binance and Zhao were recently in the spotlight after they made an announcement.
The exchange launched a token that’s pegged 1:1 with XRP, according to Changpeng Zhao.
He posted the news on Twitter and said that the crypto would be 100% backed by XRP.
Zhao reportedly hopes that this new digital asset will be able to increase the demand for XRP.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.