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BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem, one of the largest cryptocurrency exchanges in the world. It was initially launched on the Ethereum blockchain as an ERC-20 token but later migrated to Binance's own blockchain, Binance Chain. BNB is used primarily to pay for transaction fees on Binance with discounts, participate in token sales, and more recently, in decentralized finance (DeFi) applications within the Binance Smart Chain (BSC). Additionally, it can be traded on various exchanges or used for other applications like staking and payments.