After years of overlooking one of the largest digital assets, Kraken has finally taken the step to support Binance Coin (BNB).
The exchange revealed on Thursday that it had activated deposit and withdrawal functions for BNB, with full trading scheduled to begin on April 22.
Once listed, BNB will be available for trading against several pairs including USD, EUR, USDC, and USDT. However, Kraken made it clear that users in certain jurisdictions may face restrictions depending on local regulations.
The crypto world reacted with a mix of curiosity and skepticism. Some were baffled that Kraken had waited this long to support the token ranked fifth by market capitalization. Meanwhile, Binance’s own co-founder, Changpeng Zhao, downplayed the significance by referring to BNB as a “memecoin.”
Why Now? Kraken’s decision to onboard BNB comes after a period of regulatory maturation around the asset, particularly in the U.S. The exchange, which expanded its services notably during the Trump era, seems to be positioning itself more competitively in the evolving crypto landscape.
BNB’s traction has been reinforced by Binance’s ecosystem, and its chain has seen an uptick in usage that has contributed to significant token burns—over 60 million BNB have been permanently removed from circulation, totaling more than $34 billion in value.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is passionate about questions of meaning. He is a fluent German speaker as well as He has been in the crypto space for more than three years and has an eye for spotting emerging trends in the world of digital currencies. Whether providing in-depth analysis or reporting on all topics on a daily basis, his deep understanding and enthusiasm for what he does makes him a valuable addition to the team.
Source: https://coindoo.com/top-crypto-exchange-kraken-announcd-it-will-add-binances-bnb/