Binance.US Introducing Support for Binance Coin (BNB) - Coindoo
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Binance.US Introducing Support for Binance Coin (BNB)

Editorial Team Avatar
Sep 18, 2019
2 min reading time

The US platform of Binance will launch with seven cryptocurrencies, instead of the six originally intended, adding its native Binance Coin to the exchange.

The Binance.US exchange previously announced that was going to list only six coins: bitcoin (BTC), ether (ETH), XRP, bitcoin cash (BCH), litecoin (LTC) and stablecoin Tether (USDT).

The unexpected 7th coin to be added to the platform in the “first phase,” is the exchange’s native token BNB.  A number of users posted screenshots of this addition on Twitter, with the Binance CEO Changpeng Zhao “CZ” confirming the development by retweeting them on social media.

$BNB is ready to be traded on http://Binance.US from the time it launches! This is what all the BNB holders has been waiting for to see!

$BNB will be launched with $USD and $USDT trading pairs. The same also for $BTC $ETH $XRP $BCH and $LTC.

Binance strikes again! “- read CZ’s tweet.

Source: Twitter

Binance.US will allow users based in the US to trade with cryptocurrency, excepting those that are residents of 13 states including New York, Texas, and Florida.

The Binance Coin (BNB) pairs will be available on Binance.US from the first days of trading, as it has been defined as a utility coin. BNB is one of the coins that has seen the most gains in 2019.

CZ’s comment confirmed the tweet outlining the BNB pairs, dispelling any initial suspicions the community might have had regarding the development.

As the US Securities and Exchange Commission is scrutinizing coins that could be considered securities, BNB’s classification as a utility token is very important to US traders.

The current price of BNB is at ~$22, seeing a fast increase in the past 24-hour period. The coin hit its all-time high of $39 this summer, making it one of the few altcoins to have higher gains than Bitcoin. It is also one of the most profitable tokens that have been launched through an ICO, seeing as the coin’s initial offering price was set at $0.50.

Another development of the exchange, Binance Lending, also included the use of BNB. The coin has a 10% annualized interest rate, with a 14-day locking period.

Featured image: CCN

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