BNB is a native cryptocurrency for Binance exchange and BNB Chain ecosystem.

BNB is a cryptocurrency created by Binance Exchange in 2017. Binance, which quickly became the top cryptocurrency exchange by trade volume, launched BNB as a utility token for its platform. Over time, the Binance Ecosystem has expanded to include the Binance Smart Chain network and Binance Chain, which includes the Binance DEX. Binance has continued to expand the utility of BNB beyond its initial purpose by offering various services directly on the Binance Exchange and through partnership agreements outside of the centralized exchange.

BNB also has various use cases within the Binance ecosystem, including:

Trading fee discounts. Users who hold BNB can use it to pay for trading fees on the Binance Exchange, and receive a discount depending on how much BNB they hold
Staking. Binance offers several staking options for BNB holders, such as staking BNB to earn rewards in other cryptocurrencies
Initial Coin Offerings (ICOs). Binance Launchpad is a platform for hosting token sales, and requires participants to hold BNB to participate
Payment. Binance has partnered with various merchants to allow customers to pay with BNB for goods and services

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BNB Chain to undergo Pascal hardfork