ETP on BNB token launched on the Swiss Stock Exchange

The Binance exchange token will serve as the underlying asset of the new exchange product (ETP) launched today on the Swiss Stock Exchange (SIX).

The largest cryptocurrency exchange in the world in terms of trading volume, Binance announced the conclusion of a partnership agreement with fintech firm Amun to develop and launch ETP. The product appeared in the listing.
Swiss main stock exchange SIX under the ticker symbol ABNB on October 15th. ETP can be purchased through a bank or broker, similar to securities.

Amun CEO Hany Rashwan said ETP will initially be provided with $ 20 million BNB Binance tokens, representing almost a quarter of all cryptocurrency assets managed by the company.

Rashwan notes that since launch
Amun’s first cryptocurrency-backed ETP in November 2018, the number of ETPs launched by Amun has grown to 8 products that are backed by assets totaling $ 75 million.

Regulated ETPs provide investors with the opportunity to access the most popular cryptocurrencies. According to Messari, BNB’s market capitalization is $ 2.84 billion, which allows the token to enter the top ten cryptocurrencies. In recent months, BNB’s daily transaction volume has typically exceeded $ 100 million.

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BNB is used to pay commissions for trading on the exchange, as well as for the marketing and development of Binance. In April, Binance announced
about the completion of the main network change for the Binance Coin cryptocurrency and the transfer of the BNB token to the Binance Chain blockchain.

Swiss Stock Exchange SIX Listed Earlier this Month
ETP on bitcoin and ether. Amun AG ETP based on bitcoin, lightcoin, bitcoin, ether, rip and two composite products are already on the exchange.