Crypto Gloom

Gemini expands access to the BNB Chain ecosystem by adding BNB trading and storage support

briefly

Gemini has added trading and custody support for BNB, joining Kraken in offering the token and Coinbase plans to list it in the future.

Gemini expands access to the BNB Chain ecosystem by adding BNB trading and storage support

Gemini, a cryptocurrency exchange recognized as the third largest digital asset platform in the United States, announced the addition of trading and custody support for BNB, the native token of the BNB Chain ecosystem. First issued by Binance in 2017, BNB is widely used for transactions, network fees, and various applications built on the BNB chain.

Historically, Binance has offered fee discounts and promotional incentives to BNB holders subject to certain terms and conditions.

With this update, BNB becomes one of the cryptocurrencies that can be both traded and stored on the Gemini platform. Other US-based exchanges such as Kraken already offer BNB support, while Coinbase has included the token in its listing roadmap but is yet to enable active trading.

The token serves as the native currency within the BNB Chain ecosystem, facilitating digital payments, paying network fees, and supporting the operation of applications built on the network.

In a blog post, Gemini highlighted that BNB has historically been used for fee reduction and promotional programs offered by Binance.

The move to expand BNB availability across multiple exchanges signals continued interest in existing altcoins despite the broader challenges facing the altcoin market throughout the year.

At the time of writing, BNB is trading at $841, with a low of $827 and a high of $845, according to CoinMarketCap, reflecting an increase of over 0.74% in 24 hours.

Gemini expands product with new prediction market contracts following Nasdaq IPO

Gemini, a New York-based cryptocurrency exchange and custodian backed by the Winklevoss twins, operates as a regulated platform that allows users to buy, sell, trade and store digital assets under the supervision of the New York State Department of Financial Services and is available in over 60 countries. Last September, the company completed its initial public offering (IPO) and began trading its shares on Nasdaq.

Continuing to expand its product offering, Gemini recently launched a new prediction marketplace contract. The exchange’s prediction markets arm, Gemini Predictions, has further developed its recently established platform by introducing additional event contracts in both sports and politics categories.

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About the author

As MPost’s resident journalist, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.

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As MPost’s resident journalist, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.

more articles