eToro, a social trading platform, has officially announced its partnership with Binance and has listed its Crypto token, the Binance Coin (BNB), on its platform. eToro has also become the first platform to provide the BNB tokens for trading to investors through using fiat currency. This new addition of the BNB token on the eToro platform puts the total number of Crypto assets available on the platform to thirteen.
Long-Term Utility And Value For BNB
BNB, which is Binance’s native token, has been dubbed as the gas that keeps the Binance ecosystem going. It was issued right after the initial coin offering (ICO) by Binance last year and since then has been often used to pay for the trading fees, exchange fees, partnership applications and the listing fees on the Binance platform.
Holders of the BNB token are also able to invest in some of the ICOs that have been listed on the Binance Launchpad program. When it comes to partnership applications of the BNB token, investors of the token are able to make reservations for flight in certain airports which include the Brisbane Airport. The token investors are also able to purchase virtual gifts with the tokens on Uplive, which is a live streaming mobile app from Asia with more than twenty million users.
Changpeng Zhao, the chief executive and founder of Binance has said that his firm is honored to have its native token listed on the eToro platform with his statements going further to say that through this addition the token will be able to reach that much more people, most of whom are only used to traditional ways of paying for goods and services. He added that with regards to the utility of the token, the firm was dedicated to creating value and utility that was long-term stating that this will be done through its partnership with eToro.
Firm Pleased To Partner With Binance
Through listing the BNB token on its platform eToro has created more room for diversification of its listed Crypto holdings seeing as the token is going to be added onto the firm’s CryptoPortfolio, which is a solution that makes it easier for the platform’s users to diversify their holdings.
eToro’s managing director, Guy Hirsch, has said that the company is excited about the new partnership with Binance. He added that the company only adds coins it sees as having not only a great product behind them but also with well-defined product roadmap and business usage. He added that with Binance being constant in building innovative infrastructure, eToro was confident about its demand in the market.
Yoni Assia, eToro’s co-founder, has said that the firm will continue adding on its platform Crypto assets that are remarkable adding that with it being a regulated securities broker, it has the mandate of offering utility and security tokens.
Sponsorships With Top Premier League Teams
This year eToro announced its sponsorship deals with seven top premier league teams, which were honored in Bitcoin.