Binance May Allow users to launch their own exchange
Binance’s newly released Binance cloud platform may bring new expectations because of its new features
After Binance’s exchange founder and CEO, Changpeng Zhao (CZ), first announced the launch of Binance Cloud on February 8, the new service was officially released on February 17 and is aimed at users who are ready to crypto Exchange to set up Binance.
All-in-one infrastructure to start a crypto exchange
According to the announcement, Binance Cloud will serve as an all-in-one infrastructure platform for customers and partners to start exchanging digital assets based on Binance’s industry-leading technology, security, liquidity and custody services. The solution also supports a dashboard for money management, multilingual functions, and a range of trading pairs and coin lists.
Binance’s new Exchange-specific cloud solution enables users to set up a crypto platform in their local markets. The functions of Binance Cloud include the Crypto Spot Market and futures trading as well as local bank API integrations and peer-to-peer exchange services from Fiat to Crypto. In the future, Binance Cloud plans to add additional features such as stakeout, over-the-counter trading services and token issuance with the first platform for exchange offerings.
According to CZ, Binance Cloud users can start an exchange within three to five days
The Binance CEO told that Binance Cloud would allow any partner to start an exchange within three to five days if “other preparations are needed”. According to the original announcement, the first major digital asset exchange to be fully supported by Binance Cloud will launch in early March 2020.
Binance Cloud corresponds to Binance’s mission to unlock crypto for everyone
CZ also pointed out that Binance Cloud is the first of its kind, claiming:
“Binance Cloud is a product suite that was previously missing on the market. We strive to share Binance’s quality experience across different brands, communities and markets worldwide.”
CZ wasn’t sure who originally invented the Binance Cloud idea, apart from the fact that he wasn’t. Binance’s CEO added that the origin of the idea is not as important as its implementation. CZ emphasized that Binance Cloud aims to give everyone access to crypto and contribute to global acceptance. CZ said:
“We want to give more of our partners access to crypto so that other people can do it with us to enable access to crypto. So the concept behind Binance Cloud is that we want to provide a platform where other people can help us access crypto. That is really the idea behind it. “
The news comes from a recent report claiming that Binance has applied for a license to operate in Singapore. Originally based in Malta, Binance is now reported to be expanding compliance by acquiring a license from the Monetary Authority of Singapore.
