Starting from on 21st July, GIFX exchange supports Binance Coin (BNB) on www.gifatoken.com and in all the mobile applications, Android and iOS. GIFX customers can now buy, sell, convert, swap, send, receive, or store BNB in all GIFX-supported regions. Binance trading is also added to the trading platform.
Binance Coin is the cryptocurrency issued by Binance exchange and trades with the BNB as a sticker symbol. Binance coin was launched during an initial coin offering (ICO) in July 2017. Binance coin initially launched on the Ethereum blockchain with ERC 20 standard but has since then become the native coin of the Binance chain. Binance coin has a strict maximum of 200 million BNB tokens. As of July 2021, Binance exchange is the largest cryptocurrency exchange in the world, supporting more than 1.4 million transactions per second.
Almost half of the funds raised during the ICO process were intended to be used for Binance branding and marketing, while around one-third were used to build the Binance platform and perform necessary upgrades to the Binance ecosystem. BNB was initially based on the Ethereum network but is now the native currency of Binance's own blockchain, the Binance chain.
Binance's token has garnered support from other partnerships which has helped its usage spread. It includes a partnership with Asia's premier streaming platform, Uplive, and now GIFA Token and other entities which incorporated the BNB tokens.