BNB
Technology & Computing abbreviation · Cryptocurrency & Blockchain
| Stands for | BNB (formerly Binance Coin) |
|---|---|
| Categories | Technology & Computing |
BNB stands for BNB (formerly Binance Coin), a cryptocurrency & blockchain abbreviation.
The native token of BNB Chain, the blockchain ecosystem created by the exchange Binance. It pays transaction fees on BNB Smart Chain and gives trading-fee discounts on Binance.
Example: Pay trading fees in BNB to get the exchange's discount.
Usage notes
Launched in 2017 through an initial coin offering as Binance Coin, an Ethereum token, and later moved to Binance's own chains. In 2022 Binance renamed its ecosystem BNB Chain and said the letters now stand for "Build and Build". Binance periodically burns tokens to reduce supply, and the coin's close ties to one company make it more centralized than most major cryptocurrencies.