There has been considerable interest in the synthesis of new nitrides because of their technological and fundamental importance. Although numerous metals react with nitrogen there are no known binary nitrides of the noble metals. We report the discovery and characterization of platinum nitride (PtN), the first binary nitride of the noble metals group. This compound can be formed above 45-50 GPa and temperatures exceeding 2,000 K, and is stable after quenching to room pressure and temperature. It is characterized by a very high Raman-scattering cross-section with easily observed second- and third-order Raman bands. Synchrotron X-ray diffraction shows that the new phase is cubic with a remarkably high bulk modulus of 372(+/-5) GPa.