Kraken has officially announced the launch of Binance Coin (BNB) trading, which will be available starting April 22, 2024. Trading will occur in several currency pairs.
Start Date for BNB Trading
Kraken has confirmed that Binance Coin will be available for trading from April 22 at 14:00 UTC. Users can already make BNB deposits as the deposit functionality is now active.
Reasons for Listing Delay
Market analysts believe that the delay in listing BNB may have been linked to regulatory uncertainties. Concerns about whether BNB could be classified as a security kept several U.S.-based exchanges cautious. Lucas Outumuro, head of research at IntoTheBlock, stated that platforms might have avoided BNB due to perceived risks tied to its centralized network structure.
Strategic Importance for Kraken
Adding BNB, a key token from a competing exchange, suggests that Kraken is expanding its offerings and providing users with more trading options. The listing is expected to attract a new segment of traders and increase market activity around BNB on U.S.-based platforms.
The launch of BNB trading on Kraken highlights changes in the U.S. regulatory environment and the growing competition among cryptocurrency exchanges. It also opens new trading opportunities for users who prefer fiat and stablecoin transactions.
