Wrapped BNB is a wrapped version of the BNB native tokens on the BEP-20 standard on the Binance Smart Chain.
BEP20 is a standard allowing any tokens on Binance Smart Chain to be used by other applications: from wallets to decentralized exchanges in a consistent way. wBNB follows BEP20 standard except that there is no owner. Besides, this standard interface also extends ERC20 to facilitate cross chain transfer.