The Binance Coin (BNB) token, initially issued as an exchange token by Binance, is the native asset of the BNB Beacon Chain and the BNB Smart Chain. BNB was migrated to BNB Beacon Chain in 2019 and became the utility token and native main asset of the Beacon Chain under the BEP-2 token standard. In 2020, BNB was migrated to the BNB Smart Chain and became the utility token and native main asset of the BNB Smart Chain under the BEP-20 token standard, which shares similarities to the ERC-20 standard for fungible tokens.