$BNB is a cryptocurrency developed by Binance, one of the largest cryptocurrency exchanges in the world. Launched in 2017, BNB was initially created to be used as a utility token within the Binance platform, allowing users to pay discounted transaction fees. Since then, the currency has expanded to several other uses, including participation in initial coin offerings (ICOs) and the Binance Smart Chain (BSC) ecosystem, a proprietary blockchain that allows the creation of smart contracts and decentralized applications.

BNB has a deflationary model, with Binance periodically burning tokens, reducing its total supply over time. This aims to increase scarcity and, consequently, the value of the token. The currency has proven popular among investors and has been adopted by several services both inside and outside the Binance platform, consolidating itself as one of the main cryptocurrencies on the market.