Binance Coin (BNB) was launched in July 2017 by Binance, one of the world's largest cryptocurrency exchanges, through an Initial Coin Offering (ICO). Initially, BNB was an ERC-20 token on the Ethereum blockchain, but it later migrated to Binance's own blockchain, Binance Chain, in 2019. BNB's primary use was to offer trading fee discounts on the Binance platform, but its utility has since expanded to include transaction fees on Binance Chain, token sales on Binance Launchpad, and various other applications in DeFi and online payments. BNB's value has grown significantly, reflecting Binance's rise in the crypto ecosystem.
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