Binance Coin (BNB) is a cryptocurrency created by the Binance exchange. It was initially created as an ERC-20 token on the Ethereum blockchain, but has since migrated to its own blockchain called Binance Chain. Binance Coin has several uses within the Binance ecosystem, including paying for trading fees on the Binance exchange, participating in token sales on the Binance Launchpad platform, and using Binance's decentralized exchange, Binance DEX.