Binance Coin (BNB) ranked among the top 20 in the list of over 2000 cryptocurrencies listed on Coinmarketcap. In a recent tweet, Binance revealed that BNB has become the fifteenth most valuable cryptocurrency by market capitalization, which currently stands at over $ 1.2 billion.
BNB is the native currency of Binance with several cases of use for the owners that the company has highlighted in a post published on its official Medium account. The cryptocurrency can be used for the payment of the trading fees on Binance, the expense for goods and services with the merchants and the partner establishments of Binance, using as a gift token on social media services.
The rankings of 24-hour trading volume of Coinmarketcap.com for cryptocurrency exchanges show Binance in the first position, as the largest exchange by trade volume.
2018 was a year full of events for Binance
Since the transfer of its headquarters in Malta to multi-million dollar venture capital investments, 2018 has been an intense year for Binance. In March of this year, the company officially announced that it is transferring its operations to Malta. The decision to make this move came as an answer to the warning about the lack of an operating license from the Japanese Financial Supervision Agency, the FSA (Financial Security Agency). In Malta, the company received a warm welcome from the Maltese Prime Minister and Labor Party leader, Joseph Muscat.
At the start of this week, Binance announced it has invested $ 2.5 million in an Australian blockchain startup, TravelbyBit. With this partnership, TravelbyBit, based in Binance and Queensland, aims to expand TravelbyBit's encrypted point-of-sale (POS) payment system in airports around the world, enabling merchants to accept Bitcoin and other payments digital currencies. The duo will also facilitate travelers in booking their travel plans using cryptocurrencies.
In June of this year, Binance Labs, the blockchain technological incubator managed by Binace, made its first venture capital investment in the Crowdequity, Republic platform. The Republic raised $ 12 million in total from Binance Labs, NEO and several other companies. The investment came just after Binance announced it was creating a $ 1 billion fund to support blockchain and cryptocurrency startups.
The company also participated for the first time in an important M & A, this year. Binance has acquired the cryptocurrency wallet provider and the decentralized applications browser, Trust Wallet, with the aim of giving back control to users. Trust Wallet is known not to request information or private data from the user.
Binance, who turned 1 in July, was involved in charitable initiatives. He collaborated with the Maltese government president to create the Blockchain Charity Foundation in July. The collaboration aims to use blockchain technology to "empower vulnerable communities and improve transparency in charity work". In the same month, Japan received a donation of $ 1 million for victims of western Japan affected by heavy rains on 7 July 2018.
At present, the company is working on a decentralized encrypted exchange that should be launched in the first quarter of 2019.