SIX Swiss exchange introduces Binance Coin ETP

The SIX Swiss exchange has started trading with the first physically backed up Binance Coin (BNB) Exchange Traded Product (ETP) under the Ticker ABNB.

The Binance Coin ETP was launched by Binance, the world’s leading cryptocurrency exchange, and Amun, a leading provider of exchange-traded products, and is aimed at institutional investors who want exposure to digital assets in a traditional financial infrastructure. The leading Swiss stock exchange now has an Exchange Traded Product (ETP), supported by the BNB, the stock market Token of the Maltese cryptocurrency giant Binance,. The Binance announced, and on 15. October on the SIX Swiss Exchange and admitted to trading Amun Binance BNB ETP will be complete by BNB-Token to the value of 20 million US Dollar secured. An ETP is a type of security that is compared with the value of an Index or an asset.

The new ETP product is a first for BNB and the result of a partnership between the Binance and the Swiss Fintech Startup Amun AG. The Swiss company has made in the crypto-economy already has a name by it has launched 7 crypto currency ETPs on SIX Swiss Exchange. Some Single-Asset ETPs, such as the Amun Bitcoin ETP (ABTC), the Amun Ethereum ETP (against the city aether), the Amun Ripple XRP ETP (AXRP), the Amun Bitcoin Cash ETP (ABCH) and the BNB ETP (ABNB) has launched include. Furthermore, Amun also provides the indices HODL, KEYS and ABBA, each with a different portfolio of Top crypto-currencies to track.

Investors can buy the NBB ETP on the Swiss main stock exchange through a Broker. Binance CEO Changpeng Zhao said that this is a further milestone for the cryptocurrency industry as it closes the gap between the existing financial system and the BNB Coin:

Our partnership with Amun in the introduction of the BNB ETPs will offer investors a new and regulated asset class with a unique Dimension for Utility-Token, which makes it a traditional financial infrastructure accessible and reliable. This will give traditional investors access to a diversified commitment in the global cryptocurrency market and its innovative products move.

While Binance in his Position, that BNB is a Utility Token and no securities, will stand firm, will be the Amun Binance BNB ETP securities and the investors ‘ response, familiar with Mainstream financial instruments better, as with crypto-currencies.

Big Ambitions

The SIX Group, the operator of the SIX Swiss Exchange have greater ambitions in the field of crypto-currency than just the listing of ETPs of Amun. The consortium of more than 50 Swiss banks, is planning the introduction of SIX Digital Exchange (SDX) in the first quarter of 2020. The Corda platform, R3 built a platform to facilitate trade with crypto currencies and digital securities.

While the industry Matures and crypto-platforms continue to grow, with traditional stakeholders together, merge, and merge, is to remain regulation and Compliance are the main causes for friction losses and represent a key area where industry leaders are business-critical and strategic steps. Binance has intensified its efforts to comply with the Compliance guidelines at the beginning of the month and his new partnership with Coinfirm, an international company for regulation of technology, known given. The AML solution provider will help the crypto-exchange in the case of the anti-money laundering (AML) and compliance with the requirements of the Financial Action Task Force (FATF) to make sure.

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