Binance and Amun AG Team Up For ABNB ETP Project

Binance and Amun AG Team Up For ABNB ETP Project

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Leading exchange platform Binance and Swiss digital assets firm, Amun AG, have joined forces for an exciting new project dubbed as a “World First”.

In what is described as the “first step” for their partnership, the two firms will be launch what is known the BNB ETP, a tradeable asset that is already up, running and ready for trade on a regulated segment of the SIX Swiss Exchange. The new asset will essentially be an amalgamation of separate services of the two firms.

Most people who are familiar with the world of crypto will likely already be familiar with one half of the new asset, BNB, the native coin of Binance. The multi-faceted token offers a wide array of use cases and functions as the currency on Binance’s own, blockchain, the Binance Chain, and is currently a top 10 crypto according to Coinmarketcap, despite being less than 3 years old. The ABNB side of things will see the BNB be adapted into a token that is viable for trading to a wider audience and move it away from its previous domain as an asset solely on the crypto market.

By listing on the Swiss Exchange, a wider audience of other investors will now be able to buy, sell and trade the token, even if their portfolios previously contained no trace of crypto investment, via traditional trading methods. i.e. a brokerage firm or a bank. According to CZ Zhao, the CEO of Binance, the purpose of the move is to “provide traditional investors access with diversified exposure and segue into the global cryptocurrency market and its innovative products.”

The listing of the ABNB ETP will be completed by Amun and administered via the Amun Onyx Platform, which is a premier issuance and administration platform that specialises in this crypto to wider financial market transitions. With this being the 8th time that the firms have conducted such a transition from one market to the next.

Speaking ahead of the listing Hany Rashwan, the Amun CEO, stated, “We are so excited to partner up with the world’s largest crypto exchange and make their native token accessible to institutional and retail investors in the most secure, cost-effective and regulated Swiss exchange-traded product.”

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