Tag Archives: Binance

Binance CEO CZ Wants More DeFi Projects on Smart Chain

Binance CEO CZ Wants More DeFi Projects on Smart Chain

4 hours ago by Chuks Chukwuka ·

2 min readTo justify his stance on the suitability of the Binance chain for projects,

CZ stated that the platform recently attained the milestone of 10% of Ethereum volume in terms of usage.The CEO of Binance Changpeng Zhao wants more smart contract projects to move to the Binance Smart Chain platform. This can be deduced from a tweet made by the man fondly known as CZ within the crypto circle. He made the tweet while discussing with another user, adding that the Binance chain is not really a competitor but could reduce the load on the Ethereum network. Ethereum gas price has soared in recent weeks as the platform has continued to be the favorite of smart contract developers.

CZ noted:

“BSC never aimed to replace ETH, BSC is just ETH-compatible. Smart projects are giving their users more options. Option for cheaper fees.”

Apparently, to justify his stance on the suitability of the Binance chain for projects, CZ stated that the platform recently attained the milestone of 10% of Ethereum volume in terms of usage. The Binance smart contract platform called the Binance Smart Chain was launched on September 1. The platform also announced a $100 million funding for projects that would be built on the platform. Obviously, the Binance team is interested in DeFi projects which have continued to grow in popularity. Recently, the platform listed BurgerSwap which pulled thousands of investors at launch, almost reminiscent of the Ethereum hosted CryptoKitties. CZ said that he avoids commenting on specific projects to avoid passing the wrong impression that they have been endorsed by Binance. He said that going forward, that would change as the CEO seems determined to promote projects built on the BSC.

Commenting on DeFi projects, he wrote:

“Some may offer short term gains, but they come with super high risks too. Don’t invest money that you can’t lose.”

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Article Produced By
Chuks Chukwuka

Chuks is a blockchain enthusiast and finance researcher that has covered the crypto sphere for several years. He believes that the evolving technology would change how we do business.

https://www.coinspeaker.com/binance-ceo-smart-chain/

 

 

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Crypto Travel Agency Travala to Use Binance Chain for Decentralized Services

Crypto Travel Agency Travala to Use Binance Chain for Decentralized Services

The firm plans to become a fully decentralized online travel agency.


Cryptocurrency travel agency Travala.com announced that it started a collaboration with Binance Chain aiming to decentralize its services.

Travala.com intends to roll out decentralized reviews, decentralized accommodation bookings, a decentralized referral system and a decentralized salesforce. The firm’s CEO Juan Otero explained that — in the future — users will be dealing directly with the property owners, leveraging blockchain’s disintermediation potential: “Under this decentralized model, accommodation seekers will be able to book stays without the need for an intermediary. Said another way, individuals seeking to rent an apartment, bedroom, or hotel room will be able to deal directly with property owners.” Otero explained that Travala.com will only provide the technology needed to facilitate bookings, including tools for user reputation, dispute mediation and governance mechanisms. Travel service providers will be able to control all the aspects of their online listings and deal directly with their customers.

After Travala.com launches the decentralized accommodation booking system, the firm plans to focus its efforts on developing a decentralized review service. Reviews will be stored on-chain to ensure that they cannot be removed or edited after they have been submitted. Otero also explained that — in order to prevent fake reviews — Travala.com intends to use tokenized incentives and only allow reviews from users that have visited a given location by booking on the platform. So far, Otero does not have a clear idea of how much of Travala.com’s business he can move on chain. He explained that “in the long-run, ideally all aspects of the [decentralized online travel agency] will be on-chain” but admitted that this may not be practical:

“Realistically we will have to phase out what aspects of the [firm] are on-chain. As we are closer to the implementation of certain features we will review the trade-offs of being on-chain versus off-chain.”  This is the latest in a long series of announcements by Travala.com which apparently is currently pursuing an aggressive expansion of its business. Earlier this month, Travala.com added over 600.000 hotels through a partnership with booking giant Agoda. In July, Expedia also partnered with the firm, adding over 700,000 accommodations to the platform, which resulted in a 68% increase in bookings.

Article Produced By
Adrian Zmudzinski

Adrian is a newswriter based out of Pisa, Italy. He's passionate about cryptocurrency, digital rights, IT, tech and futurology and likes to think about the future in a positive way.

https://cointelegraph.com/news/crypto-travel-agency-travala-to-use-binance-chain-for-decentralized-services

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Maker, VeChain, Binance Coin Price Analysis: 17 August

Maker, VeChain, Binance Coin Price Analysis: 17 August


The crypto-market remains largely bullish, especially since yield farming and the success of DeFi tokens have been appealing to many investors.

With Ethereum priced at above $400, at the time of writing, the world’s largest altcoin can, in the medium term, signal more bullish sentiment for itself and the rest of the altcoin market. At the same time, Binance Coin and VeChain were trading near important levels on both the short and long-term charts. Maker, however, had retraced after surging by nearly 25%, despite the fact that it could now be readying itself for another potential rise. Maker [MKR], ranked 28th on the charts, had a 24-hour trading volume of $46.3 million while having a market cap of $721.5 million.

MKR found its support levels around the $684 region. The Parabolic SAR’s dotted markers were forming under the price with the 20 SMA (white) above the slower 50 SMA (yellow), a sign suggesting that the price would rise. The crypto-asset might be able to reach new highs near the $800-mark if the interest in DeFi continues to soar. For VeChain, the month of August hasn’t seen it continue on its incredible uptrend from the month of July. The presence of a strong resistance level at $0.0208 halted some of the progress made. Ranked 21st with a market capitalization of $1.15 billion, this level could change if the resistance is breached by VET with momentum.

The RSI had stepped out of the bearish side and was noting a value of 59, at press time. If VET’s RSI reading can remain above 50, after the breach of the neutral line, it might mean that VET will go on another uptrend. The Bollinger bands were relatively tight on the charts, with VET’s price above the 20-period moving average. Further, VET was trading just below its resistance at $0.0208. Failure to rise beyond that level can see VET revisit the $0.0193 zone.

Binance Coin [BNB]

Binance Coin had a 24h trading volume of $251.3 million, a figure that was a bit lower than the volume that saw it touch $23. This may be a sign that BNB traders and investors are waiting to see if the support will hold. BNB has been on an uptrend since July first week. It was faced by a resistance level at $23. The Chaikin Money Flow showed money was flowing into the market. As long as this doesn’t change, BNB has a good chance of brushing past its resistance at $23. If BNB breaches $23, it will be faced with another resistance near the $24.2 region, which is a level that has been important on the longer time-frame as well. Failure to break the resistance can lead to a drop to its $21.75 support. At press time, BNB held the 11th rank on the charts with a market capitalization of $3.35 billion.

Article Produced By
Akashnath

Having studied Chemical Engineering, Akashnath's focuses on UK and Indian markets. Has an avid interest in trading crypto markets and is always on the lookout for investment opportunities. A die hard Manchester City FC fan, often sings "Blue Moon" when he thinks no one is nearby.

https://eng.ambcrypto.com/maker-vechain-binance-coin-price-analysis-17-august/

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Why the Market Dominance of Binance is a Big Risk

Why the Market Dominance of Binance is a Big Risk

the ideals of this new generation of digital currencies were clear: empower individuals to manage their own finances without reliance on a centralized force. Despite these ideals, Binance has risen up to become the de facto emperor of the cryptocurrency industry with the power the sent the entire industry tumbling into a tailspin — should another Mt. Gox-esque breach occur again. 

The Binance Problem

Since Binance launched in 2017, its growth has been nothing short of meteoric, quickly rising to become the number one cryptocurrency spot exchange by trading volume. Binance took just months to secure its position as the largest and therefore most popular cryptocurrency spot exchange platform, and it can be argued that much of this success is a result of its rapidly-expanding feature set. After all, in the last year alone, Binance has introduced cryptocurrency derivatives, staking support, savings products, fiat gateways, and more, massively expanding on the initial offerings it launched with. Although this sounds appealing, it’s important to remember that Binance isn’t actually innovating in most cases, and is simply adding features that have already existed on separate dedicated platforms for quite some time. 

Because of this, while Binance can be considered a jack of all trades, it is also the master of none, since dedicated platforms frequently offer better service, improved security, and a more feature-complete solution compared to Binance. Still, Binance remains a rapidly growing entity, hoovering up users from other small platforms, while providing an arguably worse service in many cases. This rapid growth has led to a concerning stage of affairs, where a single platform controls or manages a large chunk of all cryptocurrencies in circulation — exactly the opposite of the decentralized maxims the industry was initially launched under. Cryptocurrencies are supposed to be about removing centralized failure points and empowering users to be their own bank, not handing over power to a select few industry titans.  

When One Hack Could Cripple the Industry

The risks posed by the over-aggregation of assets under a single platform was made clear back in May 2019, when an unknown attacker was able to exfiltrate $40 million worth of Bitcoin (BTC) from its hot wallet — equivalent to around 2% of its Bitcoin holdings at the time. Although Binance was able to cover the loss using its ‘SAFU’ fund, it never did reveal exactly how attackers were able to pull off the hack in the first place. This begs the obvious question — what would happen if Binance were to experience a more significant breach, potentially risking the billions of dollars in digital assets held in its coffers?

If the events that followed the infamous 2014 Mt. Gox hack are anything to go by, then such a breach would almost certainly send the entire cryptocurrency industry into an extended bear market, and could significantly hamper adoption for several years.This is particularly worrying when you consider that Binance isn’t regulated or licensed anywhere. This essentially means the platform is operating with little to no regulatory oversight, and may not be held accountable should another breach exhaust its SAFU fund and cripple the market.Upon entering the cryptocurrency space for the first time, Binance is inevitably one of the first names people come across, making it one of the first port-of-calls for many new investors. However, Binance is far from the only reputable name in the industry, while many of its smaller competitors boast features that even the juggernaut that is Binance still struggles to match.

For those looking for a regulated alternative, Bityard stands out as arguably the most impressive. The platform is one of the simplest cryptocurrency derivatives trading platforms, allowing users to trade with up to 100x leverage to multiply their profits, while its daily mining game adds an interesting incentive for new traders. Bityard is currently licensed in four jurisdictions and offers a full refund warranty for deposits — an extremely rare feature in the cryptocurrency exchange space. If absolute variety is your preference, then FTX might be more of what you are looking for. As a derivatives exchange, FTX allows users to trade a variety of cryptocurrency futures contracts, but its real stand out feature is its forex, stock index, and commodity contracts, which can be bought and settled in cryptocurrency. PrimeXBT’s ultra-fast turbo platform, StormGain’s 10% APR on deposits offer, and EXMO’s wide fiat support also stand out as promising features that are yet to be equaled by Binance, and are certainly worth a look. 

Article Produced By
JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

https://themerkle.com/why-the-market-dominance-of-binance-is-a-big-risk/

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Binance China’s Presence ‘Grows’ as Unit Joins UN Sustainability Drive

Binance China’s Presence ‘Grows’ as Unit Joins UN Sustainability Drive


Multiple Chinese media outlets are reporting that Binance China’s influence is “growing”

in the Middle Kingdom after the exchange’s domestic arm joined the United Nations Global Compact sustainability drive. The UN drive describes itself as a “non-binding pact to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on their implementation.” Binance China’s Blockchain Research Institute officially became a signatory this week. The company has been looking to boost its presence in China, where recent reports claim it now has a number of subsidiaries up and running – all ostensibly working on blockchain-reported activities.

Binance is one of the many powerhouse Chinese exchanges forced out of Mainland China by the crypto crackdown of September 2017. However, the company, along with rival Huobi, appears to be on a charm offensive of late as both companies tentatively return to the mainland. So far, they have limited their activities to blockchain-related work. The institute was launched in China in March this year, per an official announcement. However, it now looks as though, should Beijing ever choose to lift its block on crypto – whose popularity remains sky-high among the nation’s affluent middle class – these exchange giants would be ready to recapture millions of customers very quickly indeed.

Binance’s latest UN-linked move was spearheaded by the institute’s Executive Dean Helen Hai, the head of Binance’s Blockchain for Charity initiative – and also a United Nations Industrial Development Organization Goodwill Ambassador. Specifically, the Binance China Blockchain Research Institute’s involvement will be connected with the Chinese Belt and Road Initiative – which has seen China actively invest in some 70+ developing countries, building infrastructure projects and making wider investments. The program – previously known as the New Silk Road project – has been met with no shortage of skepticism from many Western powers, who fear it could be used as a tool of China’s growing global influence. Other big-name United Nations Global Compact Chinese signatories include the China Development Bank, oil giant Sinopec and the China State Grid Corporation. BlackBerry, under Chinese ownership since 2016, joined in spring this year. Per Chainnews,

Hai stated,

“Binance has been focusing on using the power of digital technology to help underdeveloped regions improve the efficiency of charitable assistance and medical treatment.”

In May, it was reported that Binance might be preparing to re-enter the Chinese market via "blockchain, not crypto road."

Article Produced By
Tim Alper

Tim Alper is a British, South Korea-based journalist, a regular contributor to Cryptonews.com, who covers cryptocurrency and blockchain related news daily, writes in depth analysis pieces about the latest trends in the cryptocurrency and blockchain space. Tim has over 12 years of media experience. He has written for the BBC, the Guardian, the Jewish Chronicle, Chosun Ilbo and many other media outlets, covered cryptocurrency and blockchain related news. He has also collaborated on media projects with the likes of Samsung, Sony, LG, Hyundai, Korean Air, TÜV SÜD and Shell.

https://cryptonews.com/news/binance-china-s-presence-grows-as-unit-joins-un-sustainabili-6895.htm

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Exclusive: Binance Broker Program Lays Foundation for Tomorrow’s Crypto-Economy

Exclusive: Binance Broker Program Lays Foundation for Tomorrow’s Crypto-Economy

In September 2019, leading cryptocurrency trading platform Binance launched the Binance Broker Program with an aim to form a global network of collaborations with major crypto brokers across the world.

By providing a ready and robust trading infrastructure to digital asset traders, the Binance Broker Program has been nothing short of a resounding success. In this exclusive interview, BTCManager speaks with the Binance Broker Team to know more about their Broker Program. We ask them about the current mechanism of the Broker Program, the eligibility criteria, the incentives to join the program, the available crypto products in the program, and what’s cooking in the pipeline for the Binance Broker Team. In this interview, they tell BTCManager about it all.

Interview with the Binance Broker Team

BTCManager: What is the structure of the Binance Broker Program? Can you help our readers understand the architecture of the program?

Binance Broker Team: The Binance Broker Program (BBP) is very straightforward yet effective and empowering. We designed the program to provide our partners with top-notch order matching services, account management, and settlement systems, allowing them to focus on business development and revenue generation entirely. This way, the brokers can focus on growing their business, while Binance provides technical support and access to our liquidity and market depth. Most of our partners are businesses and individuals operating in the financial markets. We’re working with projects developing trading bots, trading strategy platforms, quantitative investment management agencies, cryptocurrency exchanges, wallets, and many more. Most of them are large-scale operations and institutions, but we also have partners who are small teams of two to three people or even individuals. Since the launch in 2019, we have onboarded over 200 brokers.

BTCManager: What is the eligibility to participate in the program?

Binance Broker Team: The application process is straightforward, and the requirements are very flexible. The general requirement is that the interested partner is an existing and active business with over 20,000 users and achieves a monthly trading volume of more than 1,000 BTC. However, we’re always looking for ways to empower the crypto ecosystem with the Binance Open Platform, and we’re open to discussing the partnerships even with businesses that wouldn’t usually pass the requirements. We want to encourage even small or starting businesses to apply as we’re willing to discuss the possibilities with any business that shows integrity, dedication, and expertise.

BTCManager: What are the incentives for joining the Binance Broker Program? How does it differ from other broker programs in the industry?

Binance Broker Team: Our team is dedicated to building a prosperous crypto-economy by providing the brokers with access to the world’s largest volume and liquidity. As always for Binance, the main incentives are the highest commission rates for all our brokers, access to the Binance Open Platform tools and services, and technical support from the account management team. Cryptocurrency and digital assets trading are still in their early stage. The methods and services of the crypto brokers are far less mature than what we can see with the traditional financial brokers, and often come up with a lack of infrastructure and resources. Thanks to the success of Binance and the subsequent development of cryptocurrency trading, we’re able to explore more possibilities for the cryptocurrency brokerage.

The main difference is that the broker programs of other exchanges are focused more on institutional customers, such as OTC desks, rather than small or individual operations. The BBP has a broad business scope targeting all the different forms of brokerage partnerships and provides its partners with more independence. The benefits of our program are extraordinary. The choice of available tools and services on the Binance Open Platform provides our brokers with new opportunities to increase their profitability and operational efficiency.

BTCManager: What are the crypto products available for trading in the program?

Binance Broker Team: Our partners have access to every single trading pair supported on Binance.com. That’s more than 400 trading pairs of all the different fiat currencies, cryptocurrencies, stablecoins, and other digital assets. There’s an asset for every customer and broker.

BTCManager: Security is perhaps the top concern for new investors in the cryptocurrency space. Can you substantiate on Binance Broker Program’s security mechanism?

Binance Broker Team: All the technical and financial aspects of the BPP are protected by the same cutting-edge standards we’re using to protect our other services. Our professional account managers are ready to answer any questions and to share our operational experience with all broker program partners. We can also help our clients with risk management, security, compliance, etc.

BTCManager: What are the short-term and long-term goals of the program? How and where does it see itself in the future?

Binance Broker Team: Through continuous optimization, innovation, and providing diverse and more flexible methods, we hope to cover and enable more types of broker partnerships, no matter whether they come from the emerging crypto industry or the traditional financial industry. We will leverage our advantages and resources to work with our partners and complement each other in development. Our goal, as always, is to become the best financial provider and establish Binance Broker Program as a market leader.

BTCManager: Binance is well known for its constant drive to come up with new robust market products and services. What’s next in the pipeline for the Broker Program?

Binance Broker Team: Our primary focus is on improving the user experience of our product and services, especially our broker API, as we believe that simple and efficient tools can help us create a prosperous crypto brokerage ecosystem. We also want to increase the numbers of traditional financial brokers who join our product. This is a necessary step in the global adoption of crypto, as these conventional brokers reach audiences that haven’t started crypto trading yet. Our overall goal is to boost the adoption speed and set new standards for the financial services in crypto. At Binance, we want to grow our roster of broker partners from 300 to 500 and more, bringing Binance’s liquidity and market depth to the users of any other exchange, platform, or institution. Apply here to become a Binance Broker Partner today.

Conclusion

The Binance Broker Program is the perfect entryway for those cryptocurrency brokers who are determined to grow their business rapidly aided by Binance’s cutting-edge technological tools and services. Unlike the vast majority of other crypto platforms, the Binance Trading Program isn’t limited to institutional investors. The program seeks to involve small and medium-scale businesses to ensure better inclusivity within the realm of digital assets trading space. By enabling access to every single trading pair available on Binance.com, the exchange’s Broker Program ensures brokers get ready access to liquidity in the digital asset of their choice.

Article Produced By
alexk

https://btcmanager.com/exclusive-binance-broker-program-crypto-economy/?q=/exclusive-binance-broker-program-crypto-economy/&

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SmartBNB, a Cross-chain Bridge Between Neo and Binance Chain

SmartBNB, a Cross-chain Bridge Between Neo and Binance Chain

Safudex today announced the test-net launch of SmartBNB, a cross-chain bridge between Neo and Binance Chain. Using SmartBNB,

tokens can for the first time be transferred from Binance Chain to Neo and back in a completely trustless fashion.Using SmartBNB, new concepts can now be realized. Examples include:

  • the use of BNB and BEP-2 tokens to activate smart contracts on Neo,
  • the launch of projects that are based on both Binance Chain and Neo, thereby benefitting from the trading functionalities of Binance DEX and the smart contracting functionalities on Neo, and
  • the introduction of DeFi applications for Binance Chain-based tokens.

Flora Sun, Director at Binance X, said:

“SmartBNB is a great step forward for blockchain interoperability, enabling token issuers and users to benefit both from the liquidity on Binance DEX and NEO’s smart contracting functionality. The bridge will unlock huge synergies between the two ecosystems.”

How SmartBNB Works

Tokens can be transferred from Binance Chain to Neo by first locking them with custodians on Binance Chain. Upon locking tokens, a proxy version of those tokens is created on Neo. Those (proxy)tokens can subsequently be used on the Neo network. When the user wants to transfer tokens back to Binance Chain, the proxy-tokens on Neo are burned, which unlocks the original tokens. The system is made trustless by requiring custodians to deposit collateral on Neo. In case the custodian misbehaves, this collateral is distributed to all affected users. For their services within SmartBNB, custodians are paid by users. A time-based fee is applicable on all tokens transferred to Neo. Anyone can become a custodian by depositing collateral in the form of GAS in Neo-based smart contracts. SmartBNB, therefore, marks the first time existing Neo users can get a return on GAS held on the Neo blockchain.

Release Date

SmartBNB has launched on the test-net now! Interested projects, potential custodians and users can learn more about the project on SmartBNB’s website or the project’s Github page, where the entire codebase is open-sourced. A main-net launch is not scheduled yet.

Article Produced By
Safudex B.V.

Safudex B.V. is a Dutch software development studio with team-members in Singapore, the Netherlands, and Malaysia. Prior to Smart BNB, the company launched Neologin, a non-custodial wallet for Neo-based decentralized applications, and the Neo Notification System. Safudex has received a Neo Development Grant and a Binance X Fellowship Grant for its efforts related to SmartBNB.

https://www.coinspeaker.com/smartbnb-a-cross-chain-bridge-between-neo-and-binance-chain/

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Binance to Launch a Set of Different Stablecoin in the Near Future

Binance to Launch a Set of Different Stablecoin in the Near Future

Binance remains focused on building a better ecosystem and promoting cryptocurrency trading on a global level.

Recently, the exchange’s CFO announced that it would be issuing a set of proprietary stablecoins in the near future.

Short Bio of Mr. Wei Zhou, CFO at Binance

According to an article published by Bloomberg on June 5, 2019, every new stablecoin would be backed by a different fiat currency.Binance CFO, Wei Zhou explained that according to his estimates, the first stablecoin will be launched “in a matter of weeks to a month or two.” The token -which will go by the name of Binance GDP- will be 100% pegged to the British Pound.After this first stablecoin, Binance plans to launch other stablecoins for users of different nationalities, also benefiting those who want to take advantage of arbitrage opportunities.

Binance Focused on Developing a “Better” USDT

Zhou noted that although Binance is the largest exchange in the ecosystem, more than half of its total volume is made up of USDT, a stablecoin that started as 1:1 backed by physical US Dollars but after several controversies changed its backing method. For this reason, Binance hopes to offer other options for those who wish to “freeze their funds” or simply trade with

a new fiat/crypto pair.

“From the users’ perspective, only certain portions of the world use the dollar. Other users use other currencies, and we feel it should be reflected in stablecoins as well.”

Binance started testing this token a few weeks ago. The initial minting was only 200 pounds, which seemed to be more than enough to prove its success.The exchange seeks to compete against USDT and secure an important part of its market, however no exact date is known beyond the CTO’s announcement.Also, the next crypto that Binance would be launching remains unknown, but many speculate it could be a Binance Euro or maybe a direct competitor based on dollars or some other fiat of important volume. Currently, more than 60% of the total USDT moves through Chinese exchanges. With this new move, CZ hopes to redistribute a little the power game with a view not only to facilitate better fees but also to promote a native token compatible with its blockchain.

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Binance Integrates Turkish Bank Channel, Akbank

Binance Integrates Turkish Bank Channel, Akbank

Binance has announced the integration of a turkish bank Channel.

Binance, the leading global cryptocurrency exchange by both trading volume and active users in the world.

It has announced the first bank channel integration at Binance Global with one of the most forward-thinking banks in Turkey, Akbank. Accordingly, users are now able to instantly deposit and withdraw Turkish Lira (TRY) on Binance via desktop and iOS apps with the most competitive fees in Turkey. Binance continues to work with a growing list of partners to provide access to crypto around the world. The platform is striving to create more ways to purchase cryptocurrency with fiat in

a fast and secure manner. 

“As part of our mission to continue working on increasing the freedom of money worldwide and notably in a country that is fast-adopting digital assets. We are expanding the available options to lower the barrier to entry,” said CZ (Changpeng Zhao), Binance CEO. “As the industry scales with our products and services that grow in tandem, the availability and process of investing, exchanging and trading crypto will become more and more seamless.” 

Binance’s Recent Growth

Binance is a blockchain ecosystem comprised of several arms to serve the greater mission of blockchain advancement and the freedom of money. Binance Exchange is the leading global cryptocurrency exchange by trading volume, with users from over 180 countries and regions. The Binance ecosystem is also comprised of Binance Labs (venture capital arm and incubator). Binance DEX (decentralized exchange feature developed on top of its native, community-driven Binance Chain blockchain). And Binance Launchpad (token sale platform), Binance Academy (educational portal), Binance Research (market analysis), Binance Charity Foundation (blockchain-powered donation platform and non-profit for aiding in sustainability), Binance X (developer-focused initiative) and Trust Wallet (its official multi-coin wallet and dApps browser).

Binance, the leading global cryptocurrency exchange by trading volume and users, now supports peer-to-peer (P2P) trading on its website. As of the 28th of February, users can buy and sell cryptocurrencies with zero transaction fees directly from other users through the Binance P2P platform. Moreover, can join the Binance P2P Global Merchants Program to earn money from P2P trades. 

Binance P2P, a peer-to-peer marketplace for buying and selling fiat and cryptocurrencies, was first launched on Binance mobile in October 2019. As an open marketplace and key component of Binance’s Open Platform Initiative. Moreover, Binance P2P aims to increase crypto adoption globally by facilitating direct fiat-to-crypto trades between users and merchants. Binance P2P provides the platform for verified buyers and sellers to broadcast their offers, and a crypto escrow service to ensure the safe and timely delivery of crypto assets in every trade. In the past five months since its launch, Binance P2P has processed over $300 million in trades, attracting merchants and users across the world.

Article Produced By
Dare Shonubi

Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.

https://coinpedia.org/news/binance-integrates-turkish-bank-channel-akbank/

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Binance Cloud Will Help Create More Competition Among Crypto Exchanges

Binance Cloud Will Help Create More Competition Among Crypto Exchanges

Another Interesting Move by Binance

Known as Binance Cloud, the new platform will serve as an infrastructure solution. It will allow partners to launch digital asset exchanges which leverage Binance’s native technology, liquidity, and security. This provides numerous advantages and will usher in a more competitive crypto trading ecosystem. It is evident that this is an exchange-specific concept first and foremost. For interested parties, this option can remove a lot of fees associated with setting up an exchange.

Core features include bank API integration and P2P crypto exchange services. Additional features will be added over time, depending on client demand. This new move will bring cryptocurrencies to more people globally. That remains one of the core problems this industry faces in 2020 and beyond. Finding a viable solution has proven very difficult, for obvious reasons. Binance Cloud is a service the market has lacked for several years. Although white-label exchange solutions exist, they are often only a part of the puzzle. This new service offers everything one needs to be competitive from day one. 

Article Produced By
Jdebunt

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

https://themerkle.com/binance-cloud-will-help-create-more-competition-among-crypto-exchanges/

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