While Binance is a large centralised exchange, they have realized the demand from traders for decentralised exchange trading. Hence, they have recently launched their Binance DEX.
For those that do not know, a decentralised exchange (DEX) is a cryptocurrency exchange that allows for peer-to-peer trading amoung participants. There is no need to send crypto to an exchange wallet and place your orders.
The Binance DEX is Binance’s answer to this. It was built on top of the Binance Chain and the native asset that powers the exchange is of course BNB.