eToro announced on Monday it had added Binance Coin (BNB) to its list of tradable cryptocurrencies, becoming the first external platform to introduce support for this native coin and offer it to investors for trading with fiat currency.
The listing of BNB takes the total number of crypto assets supported by eToro to 13. The rest are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), EOS (EOS), Litecoin (LTC), Stellar (XLM), NEO (NEO), Dash (DASH), Ethereum Classic (ETC), Cardano (ADA), and IOTA (MIOTA).
“Despite sensational headlines about the death of crypto, we continue to believe in the potential for crypto assets, as do our clients who are increasingly looking to diversify their crypto holdings. In response, we will continue to add the leading crypto assets to our range and we are pleased to add BNB to the platform.”
Binance CEO Changpeng Zhao also welcomed the addition to eToro’s platform:
“With this addition, the Binance coin can reach millions more people, many of whom are more accustomed to the traditional financial industry. As a utility token, we believe in creating long term utility and value. We will continue to do so together with eToro.”
Binance launched BNB as an ERC-20 token following an initial coin offering (ICO) in 2017. The digital asset has several use cases, among them payment of trading fees on Binance, purchases from partner merchants and establishments, and utilization as a gift token on social media services.
Binance Coin has recently positioned itself among the top 20 on the list of over 2,000 cryptocurrencies listed on Coinmarketcap. Currently, it stands at number 14 on the chart, with a market capitalization of $1.22 billion.