BNB, originally introduced as Binance Coin, is Binance's native cryptocurrency. Launched in 2017 through an initial coin offering (ICO), BNB was first launched as a vehicle for improved trading fees on one of the world's largest crypto exchange platforms. Over time, its role has expanded significantly, making it one of the most widely used digital assets.
Initially issued as an ERC-20 token on Ethereum, in April 2019 BNB migrated to Binance’s own blockchain, BNB Chain, which supports faster transactions and lower fees. Currently, BNB powers a sprawling ecosystem, which includes decentralized finance (DeFi) solutions, smart contracts, and NFT platforms. Holders can also pay transaction fees with their BNB, join token sales on the Binance Launchpad, and make everyday payments via Binance Pay.
Binance manages the digital asset's supply and promotes scarcity by burning BNB until the total supply is reduced to within 100 million. By permanently removing portions of the asset from circulation, Binance mitigates inflation. At present, there are BNB in circulation.
BNB’s adoption extends beyond Binance, with businesses, DeFi platforms, and blockchain applications integrating it for payments, staking, and governance.
