What is the meaning of Binance?

Excuse me, as a novice in the world of cryptocurrency, I'm quite curious about the term "Binance". Could you please elaborate on its meaning and significance? I've heard it mentioned frequently in relation to digital currencies and blockchain technology, but I'm still unclear about its exact role and purpose. Is Binance a cryptocurrency exchange platform? Does it offer any unique features or services that set it apart from other similar platforms? I'd appreciate any clarification you could provide. Thank you.