Binance, the Hong Kong based exchange released their own cryptocurrency called Binance Coin (BNB). BNB can be used to pay for any fees on the Binance exchange including: exchange fees, listing fees, withdraw fees, etc. Binance also holds a coin of the month poll where the most popular coin can be traded without fees for a month. Voting on this poll requires the use of BNB.
Quarterly, Binance will use 20% of their profits to buy back BNB and burn them, until they buy 50% of all the BNB (100MM) back. The buy-back transactions will all be announced on the blockchain.

Important partnerships

Since BNB coin is an exchange coin, it is not a crypto actively seeking any partnerships, however, it should be noted that every coin that is added to the Binance exchange is a new partnership that will increase the value and uses of BNB. Some other characteristic features of BNB that makes it a viable coin include the fact that:
- Binance is the first exchange to have its own coin
- The Binance exchange is the largest crypto exchange by trading volume
- A 50% discount on fees is guaranteed if BNB is used in trading
- There is a limited amount of BNB, and this amount is being lowered by the Binance team until there is only 50% of the initial coin left.