Cryptocurrency exchange Binance, and Amun, a digital asset exchange-traded product (ETP) issuer, announced a partnership today which will allow a BNB ETP to be listed on the regulated segment of the SIX Swiss Exchange.
Switzerland-based ETP issuer Amun has already launched several crypto ETPs with the SIX Swiss Exchange and it has now partnered up with Binance to launch the BNB ETP (Ticker: ABNB). Trading for the ETP on the SIX Swiss Exchange starts today.
ETPs comprise securities that are traded on stock markets. They are created usually to track a financial instrument like a share-price index, a currency, a commodity, or an interest rate. The ABNB ETP issued by Amun is administered by the Amun Onyx Platform and it tracks the price of BNB. Amun has issued 8 ETPs with cryptocurrencies so far, including a partnership with Bitcoin Suisse to launch an ETP based on bitcoin and ether, in a mission to bring the traditional financial world and blockchain-based infrastructure closer together.
In the official statement issued by Binance, it is mentioned that the BNB ETP is just the first step of the partnership, hinting at the creation of more “innovative products contributing to the global transition to crypto assets,” and that using the BNB utility token in a way that fits into a traditional financial structure will help to make it more accessible to the institutional market and the retail market.
Binance CEO Changpeng Zhao mentioned that the partnership “will provide traditional investors access with diversified exposure and segue into the global cryptocurrency market and its innovative products”. According to Amun CEO Hany Rashwan, Amun’s ETPs are securities by design, and the ABNB ETP will make BNB “accessible to institutional and retail investors in a secure, affordable, and regulated Swiss exchange traded product”.
Yesterday Binance announced it will launch the ninth phase of its Lending Products platform on Oct. 16, adding 6 new 14-day fixed term lending products including BNB, BTC, ETH and more.