Gemini Adds BNB Trading And Custody Support, Expanding Access To BNB Chain Ecosystem
In Brief
Gemini has added trading and custody support for BNB, joining Kraken in offering the token while Coinbase plans to list it in the future.
Cryptocurrency exchange Gemini, recognized as the third-largest digital asset platform in the United States, has announced the addition of trading and custody support for BNB, the native token of the BNB Chain ecosystem. BNB, originally issued by Binance in 2017, is widely used for transactions, network fees, and various applications built on the BNB Chain.
Historically, Binance has offered fee discounts and promotional incentives for BNB holders under specific terms and conditions.
With this update, BNB becomes one of the cryptocurrencies available for both trading and custody on Gemini’s platform. Other US-based exchanges, such as Kraken, already provide BNB support, while Coinbase has included the token in its listing roadmap but has yet to enable active trading.
The token serves as the primary currency within the BNB Chain ecosystem, facilitating digital payments, covering network fees, and supporting operations of applications built on the network.
Gemini highlighted in a blog post that BNB has historically been used for fee reductions and promotional programs offered by Binance.
The move to expand BNB availability across multiple exchanges signals sustained interest in established altcoins, despite broader challenges facing the altcoin market throughout the year.
As of the current writing, BNB is trading at $841, reflecting a 24-hour increase of over 0.74 percent, with a low of $827 and a high of $845, according to CoinMarketCap.
Gemini Expands Offerings With New Prediction Market Contracts Following Nasdaq IPO
Gemini, a New York–based cryptocurrency exchange and custodian backed by the Winklevoss twins, operates as a regulated platform allowing users to buy, sell, trade, and store digital assets under the supervision of the New York State Department of Financial Services, with availability in more than 60 countries. In September, the company completed its initial public offering (IPO), and its shares began trading on the Nasdaq.
Continuing to expand its product offerings, Gemini recently launched new prediction market contracts. The exchange’s prediction market division, Gemini Predictions, has introduced additional event contracts in both sports and political categories, further developing its recently established platform.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
