The employees of one of the largest cryptocurrency exchanges Binance choose to receive their salary in BNB tokens (also called Binance Coin), according to Binance CEO Changpeng Zhao (popularly known as CZ).
This statement of CZ was brought up in a twitter post of Michael Arrington, Co-Founder of CrunchFund and former Founder and Editor of media venture TechCrunch. CZ shared this statement at the latest Liechtenstein Cryptoassets Exchange (LCX) event in which he was one of the key speakers. Arrington tweeted:
BNB token or Binance Coin is the native cryptocurrency of the Binance Exchange that was released in 2017. BNB runs on the Ethereum blockchain with ERC 20 standard and has a strict limit of maximum 200 million BNB tokens.
Last week, Binance LCX, a joint venture between Binance and LCX, launched a fiat-to-crypto exchange in Liechtenstein. The exchange will offer trading between Swiss Francs (CHF) and Euros (EUR) against major cryptocurrencies pairs, and add more trading pairs overtime subject to regulatory approval. The Binance team will provide and maintain the technology platform, while Binance LCX will manage customer support, legal requirements, due diligence, know-your-customer (KYC), anti-money laundering (AML) and government communication. Binance LCX plans to build up a team of 10-15 people for its Liechtenstein office and will immediately start the hiring process.
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