2019-10-16 19:29 |
Binance that opened the year with several successful initiatives, has not created any news occasions lately. But the silence is broken – Binance announces the next breakthrough. This time, it is the launch of ETP (Exchange-Traded Product) on SIX Swiss Exchange.
According to the official website of Binance, from today trading on ETP Amun BNB (ABNB) is launched. Amun AG is a Swiss company in partnership with which this product was developed and launched, it is one of the world leaders in the launch of ETPs (Exchange-Traded Products). Amun launched ETP ABNB through its Amun Onyx Platform which is specially created for the launch and administration of crypto products traded on the exchange. ABNB is already the eighth ETP on this platform. ABNB turns utility token BNB into a traditional financial structure. It is becoming easily accessible to both institutionals and the retail market. But the partnership between Binance and Amun is focused primarily on institutional investors interested in diversification. ABNB can easily be added to the portfolio of investors along with stocks traded on the exchange.
CEO Binance CZ (Changpeng Zhao) has become famous for his business sense. The successful development of his business is the result of a timely entry into the market with new initiatives. Now turbulence in the markets is forcing investors to hedge risks, and the emergence of a new regulated product based on cryptocurrency is highly likely to be in demand. This is what CZ emphasized in a statement regarding the launch of ABNB:
– 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. This will provide traditional investors access with diversified exposure and segue into the global cryptocurrency market and its innovative products.
Hany Rashwan, CEO Amun, noted:
– 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.
SIX Exchange is considered the tenth largest in the world. It is highly likely that new CZ initiative will again cause a wave of imitators, as it was with IEOs. And crypto exchanges will offer investors their tokens in regulated areas with the help of ETPs.
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