Binance Coin, or BNB, is the native digital currency of the Binance cryptocurrency exchange platform, created on the Ethereum blockchain using the ERC20 standard. Binance has issued a maximum of 200 million BNB. The coin was launched in July 2017 through an Initial Coin Offering (ICO) that allocated 20 million BNB to angel investors, 80 million to project stakeholders, and the remaining 100 million to various participants in the ICO. The funds raised by selling BNB were used to develop the Binance platform, branding, and marketing. A percentage of the investment was also spent on adding necessary upgrades to the Binance cryptocurrency trading platform.
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