THELOGICALINDIAN - Switzerlands capital banal barter SIX has called to access its cryptocurrency portfolio by trading a artefact based alone on Binance Coin
Binance Coin ETP Goes Live On SIX
In a blog post issued on October 15, Binance Coin’s issuer, cryptocurrency barter Binance accepted it was ablution a committed exchange-traded artefact (ETP) on SIX.
Trading will activate today and marks the aboriginal physically-backed BNB-based ETP anywhere in the world.
The move follows assorted added ETPs on SIX. For the launch, Binance partnered with bounded startup Amun, which additionally helped accompany the BNB ETP’s predecessors to market.
“Our affiliation with Amun in ablution the BNB ETP will accommodate investors with a new and adapted asset chic with a different ambit to account tokens, authoritative them added attainable and reliable through a acceptable banking infrastructure,” Binance CEO Changpeng Zhao (known as ‘CZ’) commented in the columnist release.
BNB/USD appeared buoyed by the news, accretion by about 5% over the accomplished 24 hours. On Twitter, CZ hinted he doubtable prices to access further.
“I don’t apperceive what it will do to the $BNB price, but it absolutely makes $BNB added attainable to a new audience,” he wrote on Tuesday.
BNB has in actuality appear beneath burden in contempo months. Having hit best highs about $40 in June, the badge again bisected in value. Late aftermost month, it accomplished bounded lows of aloof $15.
SIX Cosies Up To Crypto
As Bitcoinist reported, SIX has meanwhile approved to accessible up itself belvedere as a admiring ambiance for crypto-related products.
The barter launched a multi-crypto ETP backward in 2018, at the acme of the Bitcoin buck market, actual upbeat on its prospects.
Earlier this month, Amun entered into a collective adventure with Swiss abettor Bitcoin Suisse to debut a Bitcoin and Ethereum ETP on SIX.
“This artefact added exemplifies Switzerland’s arch position in the crypto space, area Amun is able to assignment carefully with the barter and authorities to actualize regulated, compelling, and institutional-grade banking products,” Amun CEO Hany Rashwan said at the time.
SIX added affairs to barrage a Blockchain adaptation of its platform, nonetheless apathetic the absolution until 2024.
What do you anticipate about the Binance Coin ETP? Let us apperceive in the comments below!
Images via Bitcoinist Media Library
