What Is Binance? A Quick Overview of Its Crypto Ecosystem
- Binance Exchange – A platform for buying, selling, and trading cryptocurrencies
- BNB Coin – Binance’s native cryptocurrency
- BNB Chain – Binance’s blockchain network
- BNB Smart Chain – A smart contract platform for decentralized applications
- Binance Launchpad – A platform for launching new crypto projects
- Trust Wallet – A secure mobile wallet for storing digital assets
How Binance Started: From Launch to Global Leader
Binance was launched in July 2017 by Changpeng Zhao, also known as CZ, who still serves as the company’s CEO. Initially, Binance operated exclusively as a cryptocurrency exchange—a platform where users could buy, sell, and trade digital currencies. Remarkably, within just one year, it rose to become the largest crypto exchange in the world.
Institutional Investment & Leadership
In March 2025, Binance attracted its first major institutional investor, MGX, a UAE-based company, which committed $2 billion to the exchange. This investment coincided with leadership changes, as Richard Teng, formerly Global Head of Regional Markets, was appointed CEO. Under Teng’s leadership, Binance is focusing on regulatory compliance and operational transparency.
Binance Exchange: A Comprehensive Crypto Trading Platform
Binance Exchange provides a full-featured platform for buying and selling cryptocurrencies. It caters to all types of users—from beginners to advanced traders—by offering both basic trading options and more complex tools like futures and margin trading.
Even if you're unfamiliar with terms like “futures” or “margin,” the key takeaway is that Binance makes it easy to trade a wide variety of cryptocurrencies. It's a popular choice because of its extensive coin selection, ranging from major assets like Bitcoin (BTC) and Ethereum (ETH) to trending meme coins like Shiba Inu (SHIB).
Binance Futures & New Products
In addition to spot trading, Binance has expanded its derivatives offering. As of July 2025, Binance Futures includes over 150 perpetual contracts, with up to 50x leverage on selected pairs like ZRCUSDT and ESPORTSUSDT. The exchange continuously introduces algorithmic trading tools, such as DCA bots and grid strategies, improving user control and liquidity management.
What Is BNB Coin? Binance’s Native Cryptocurrency
Shortly after launching Binance Exchange, CEO Changpeng Zhao (CZ) introduced BNB Coin—also known as Binance Coin (BNB)—to help fund the development of the platform.
Originally built on the Ethereum blockchain, BNB was later migrated in 2019 to Binance’s own network, becoming the native token of the Binance Chain (BNB Chain).
BNB plays a critical role within the Binance ecosystem. Beyond discounted trading fees, BNB now powers a wide range of services, including participation in token sales on Binance Launchpad, staking, and transaction fees on the rapidly growing BNB Chain. In July 2025, BNB reached an all-time high of $860, reflecting its increased adoption and institutional interest.
BNB Chain Explained: Merging Binance Chain and Smart Chain
In 2019, Binance launched its own blockchain, known as Binance Chain, with the aim of creating a fast, efficient network focused mainly on trading.
As smart contracts gained popularity—especially through Ethereum—Binance responded by introducing the Binance Smart Chain (BSC) in 2020. This new blockchain brought smart contract functionality to Binance’s ecosystem, enabling users to develop decentralized apps (dApps), tokens, NFTs, and other DeFi projects. Many popular meme coins, like Shiba Inu (SHIB), originated on Binance Smart Chain, attracting attention for their massive returns.
Although Binance operated both Binance Chain and Binance Smart Chain side by side, they were interconnected through the BNB token. To streamline its ecosystem, Binance officially merged the two in February 2022, rebranding them as a unified network: the BNB Chain. By mid-2025, BNB Chain supports a growing number of DeFi protocols, tokenized assets, and Web3 innovations, positioning itself as a major Ethereum competitor.
Binance Launchpad: Early Access to New Crypto Projects
Binance Launchpad is a token launch platform that gives users early access to new cryptocurrencies. In 2025, the platform introduced projects like Privasea AI (PRAI), and implemented a ticket-based allocation system tied to BNB holdings, enhancing transparency and user engagement. One of the biggest advantages of using Binance Launchpad is the opportunity to purchase these tokens at early-stage prices, which can potentially lead to high returns once the tokens are listed.
Trust Wallet: Binance’s Secure Crypto Wallet for Mobile
Trust Wallet is a mobile cryptocurrency wallet owned by Binance that allows users to store, manage, and access their digital assets directly from their smartphones.
It supports over 65 blockchains—including Bitcoin, Ethereum, and Binance Chain—and offers compatibility with more than 4.5 million cryptoassets, including NFTs. Trust Wallet also provides access to decentralized applications (DApps), giving users more flexibility in how they use their crypto.
With full control over their funds, users benefit from enhanced security compared to leaving assets on a crypto exchange. Trust Wallet is free to download on Android and iOS, featuring an intuitive interface that has attracted over 10 million active users worldwide.
Regional Expansion
Binance has also expanded regionally. In June 2025, the exchange resumed full service in Syria after U.S. sanctions were lifted, supporting the Syrian pound (SYP) and introducing localized trading features. Additionally, Binance launched Shariah-compliant crypto products tailored for Muslim-majority regions, reflecting its commitment to ethical finance.
Conclusion: Why Binance Remains a Leader in Crypto
Binance Exchange is the most widely used cryptocurrency trading platform in the world.
Its native token, BNB, powers the BNB Chain—a unified blockchain created by merging Binance Chain and Binance Smart Chain in 2022. This ecosystem supports a wide range of crypto activity, including many high-risk, high-reward tokens often referred to as meme coins or low-cap altcoins.
Understanding how the BNB Chain works is essential for anyone exploring new crypto projects or looking to invest in emerging digital assets within the Binance ecosystem.