BNB, which stands for Binance Coin, was created by the cryptocurrency exchange Binance. It was initially launched through an Initial Coin Offering (ICO) in July 2017 as an ERC-20 token on the Ethereum blockchain before later transitioning to Binance's own native blockchain, Binance Chain, in April 2019. BNB was created to serve as a utility token within the Binance ecosystem, providing benefits such as reduced trading fees and participation in token sales on Binance Launchpad.
