EXANTE Starts a New Binance Coin (BNB)-Based Crypto Fund

The financial broker EXANTE has recently announced something that will make all BNB fans very pretty happy: the company is pushing forward its new plan to broaden its crypto offerings by launching a new investment fund that will be directly pegged to Binance Coin (BNB).

Binance, the company associated with the BNB tokens, is the largest crypto company exchange in the world, so this is obviously a very important asset. BNB is a utility token that was originally created in order to help the customers of the company.

The company also generally buys the BNB tokens back and basically burns this “profit”, which reduces the number of tokens circulating at the moment. This has a deflationary impact in the economy, which makes the prices go up. The idea is to do it until half of the maximum amount of tokens have been burned and there are only 100 million tokens left.

Another important feature of the BNB tokens is that they can be used in order to cut fees when people trade on the platform. As Binance is the most popular and respected international trading platform, you can believe that this is a very powerful indicator of which direction the prices are going.

BNB tokens are also used in the Binance Launchpad, a platform that was created this year in order to help investors to participate in the sale of tokens from companies that are just launching them. Since you need to use the tokens to be eligible to participate and several high-profile companies are being featured, this is another powerful use case.

In fact, all of this is part of why the price of the asset went up so much this year. According to CoinMarketCap, when the year started, each BNB token was valued at around $6 USD. Now, they are worth each $32 USD. In less than six full months, the tokens went up over 400%. Not even Bitcoin was able to have such a high result.

This is probably the main reason why the company is betting on this new investment fund. While they have not officially said it, it is not hard to see that BNB is the hottest asset in the market today together with the king Bitcoin.

EXANTE Was One Of the First Brokers To Enter The Bitcoin Bandwagon

EXANTE customers can invest in over 20 crypto funds at the moment. The broker, which is based in Balta, just like Binance, has started its first Bitcoin fund back in 2013 when almost no one outside of the industry knew that BTC actually was.

This made the company be one of the first few companies to jump on the BTC bandwagon, which led its investors to profitable investments, as BTC is much more valuable now than it was back in 2013. The BTC had a minimum investment of $100,000 USD and a 0.5% fee for when you wanted to cash out, as well as a 1.75% annual fee for managing the funds.

Initially, only BTC was tradeable, but soon after that other options such as Ethereum (ETH), Litecoin (LTC), Ripple’s XRP, Zcash (ZEC) and Monero (XMR) also started to be available for the clients of the company.

Back in 2017, the company even launched XAI, a dedicated altcoin index which is set to speculate on the price of several altcoins which were prominent in the market. Bitcoin was not included to diversify more the basket of assets. 2017 was a great year for speculation, so this was possibly another win for the company and its clients.

In related news, EXANTE used its Exantech venture capital fund last year in order to announce its first direct investment in a crypto company called Comino.

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