The following are the key differences between Binance and BNB Chain:

Binance is a cryptocurrency exchange, whereas BNB Chain is a decentralized blockchain network.
Binance is the parent company that came up with the concept for the BNB Chain.

Binance is a corporate entity, but BNB Chain is a decentralized blockchain with 41 validators on the way.
Despite the fact that BNB is the native token of both Binance and BNB Chain, it is based on the latter network.

Binance and BNB Chain are distinct entities within the cryptocurrency space. Binance, founded in 2017, is one of the world's largest cryptocurrency exchanges, offering a platform for users to trade various digital assets. On the other hand, BNB Chain refers to Binance's native blockchain, introduced to support the Binance Smart Chain (BSC). While Binance is primarily an exchange facilitating crypto trading, BNB Chain serves as a decentralized blockchain network fostering the creation and execution of smart contracts.

Binance Coin (BNB) is a native cryptocurrency initially created on the Ethereum blockchain but later migrated to Binance Chain. BNB Chain utilizes a Proof-of-Stake Authority (PoSA) consensus mechanism, offering faster transaction processing and lower fees compared to traditional blockchain networks. In essence, Binance is the trading platform, and BNB Chain is the underlying blockchain infrastructure that enables decentralized applications (DApps) and smart contract functionality.