Goodbye Binance Smart Chain, Hello BNB Chain: What You Need To Know About Binance's Rebranding Of Its Blockchain, Cryptocurrency

Binance Smart Chain is no more. The world's top cryptocurrency exchange Binance has changed the blockchain's name to BNB Chain BNB/USD.

What Happened: A Tuesday announcement reveals that Binance Coin has been rebranded to Build and Build BNB/USD. The blockchain's ecosystem coordinator Samy Karim told The Block the coin "has evolved into something beyond Binance and in fact, BNB means Build and Build (not Binance Coin), it’s something CZ has tweeted before."

See Also: IS BINANCE COIN (BNB) A GOOD INVESTMENT?

Interestingly enough, some community members suggest that Binance may instead be attempting to distance its brand from the cryptocurrency it created to skirt security regulations. That would not be the first time that such a thing happened. One notable example was XRP XRP/USD, which is a financial service-focused crypto created by Ripple that previously carried the company's name. Changing Ripple's name into XRP served no good, and Ripple was prosecuted by the United States Securities and Exchange Commission.

Karim said the reason behind the name change is that "the BNB ecosystem is bigger than Binance, and has transcended Binance in terms of its use cases."

The change also comes a week after Binance CEO Changpeng Zhao informed his Twitter followers that BNB stands for "Build'N Build."