In 5 days, Binance is set to launch its latest product which is the ‘Binance Cloud’.
Following a session that Binance CEO had on twitter dubbed ‘Ask Me Anything’ (AMA), he revealed that 2020 will be a big year for Binance. One of the major things that it is working on is the launch of the Binance Cloud, which is to be launched in the 5 days.
Apart from the Binance Cloud, the CEO also announced the launch of peer trading with the Russian ruble on Binance.
Even though the CEO announced that the company is looking to launch Binance Cloud, he did not give further details. At the moment, no one knows exactly what Binance Cloud will entail.
The fact that there was a vacancy announcement on Binance for Senior Cloud Engineer, is a supporting indicator of the company moving to the cloud. According to the vacancy announcement, Binance is looking for someone who can improve, scale and automate the business using cloud-based architecture.
Binance is still to give further clarification on Binance Cloud and how it will operate.
Binance is one of the leaders when it comes to a cryptocurrency exchange, and is working on furthering its expansion. Binance is currently available in Vietnam and China and is still working on expanding to other foreign markets.
Binance is working on adding other fiat currencies on its platforms such as Russian Rubles, Vietnamese Dong, Croatian Kuna, and Norwegian Krone. So far, Russian credit cards can be used for cryptocurrency purchases.
For P2P transactions, both users must be authenticated on the exchange. The fact that Binance does not charge any transaction fees for the P2P transactions means that the transactions will increase since it will attract more people on the platform.
Binance is also doing a massive expansion to India. Recently, it acquired WazirX, which is an Indian cryptocurrency exchange. There was an Initial Exchange Offering (IEO) for WazirX coin through Binance.
From AMA, it is clear that Binance is working towards increasing the freedom of money. There are still major multinational hires that are expected.
According to CEO Zhao, they currently have 17 pairs as listings and plan to add more listings as the market recovers. The number of rare coins on the platform is also on the rise, which is a good indicator.
Binance DEX is also working on more improvements on the platform such as more privacy features, TSS security measures, smart contract support, and dark pools.
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