BitMart, a premiere global digital asset trading platform, recently announced the
Binance’s cryptocurrency BNB was built on the Ethereum blockchain. However, the company launched its own blockchain – the Binance Chain mainnet on 18 April 2019. Binance Coin [BNB] was then declared as the native token for the chain and it, therefore, was built based on BEP2 standard describes the rules for managing tokens on the Binance blockchain. Up to the blockchain launch, BNB was the most valuable token on the Ethereum blockchain, having a market cap of $2.95 billion.
Binance chain is designed to also be a platform for a decentralized exchange [DEX]. Ever since launched in April 2019, Binance Chain has received wide acclaim and attention across the industry. The use cases of BNB now include entertainment, trading, payment, storage, etc. The goal is to ensure the creation of a blockchain that will service as an alternative marketplace for issuing, using, and exchange digital assets in a decentralized manner.
Sheldon Xia, founder and CEO of BitMart, said,
“We are delighted to list Binance Coin. We believe the strong partnership between the two exchanges will bring more benefits to the users of both parties in terms of community construction, ecological governance, charity and other activities, and in the meantime, provides better liquidity.”
About BitMart
BitMart is a premier global digital asset trading platform in the cryptocurrency market with over 850,000 users worldwide and ranks among the top 8 crypto exchanges on CoinMarketCap. BitMart currently offers 247 trading pairs with relatively low trading fee in the market. As of today, BitMart has offices in South Korea, Hong Kong, United States, and Nigeria with employees in 15 different countries and regions.
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