Binance, the world’s largest crypto exchange in trading volume, launches Binance Cloud, a platform to launch digital asset exchanges using the exchange’s vast technology and data.
In an announcement earlier on Monday, the world’s largest digital asset exchange, Binance, officially launched the Binance Cloud platform. The new platform aims to help users, developers and traders launch their own digital assets using Binance’s “technology, security and liquidity”.
The cryptocurrency market is on an uptrend in the past two months or so, despite the current blip which saw Bitcoin (BTC) retest sub-$10,000 levels dragging the rest of the market along. However, the daily volumes traded on altcoin markets has been on the up showing increased levels of interest in digital assets.
“Binance Cloud supports its customers and global partners with a complete turn-key exchange platform solution, consolidating the new financial infrastructure to an open platform based on blockchain technology.” – Changpeng Zhao, CEO of Binance.
With the legacy crypto exchanges having a tail in maintaining the huge demands, Binance is re-focusing its business plan to developers with the new platform. Users of Binance Cloud will be able to leverage the big data security systems, trading risk controls and matching engines provided by the exchange to create a highly liquid and deep markets for their consumers.
#Binance Announces B2B2C Cloud Solution for Launching Digital Asset Trading Platforms
An exchange-specific cloud solution, Binance Cloud provides partners & customers with a means to easily set up a digital asset trading platform in their local markets.https://t.co/ThQyrwePlh
— Binance (@binance) February 17, 2020
Binance Cloud to boost local adoption of crypto
The exchange provides an advantage by enabling developers to set up their own functional exchanges in their local markets. While the exchanges are expected to start out small from spot trading markets, the Cloud will provide users with extensive features including futures and options trading markets. CZ stated the launch of Binance Cloud is set to help the exchange meet its goals of providing over 180 fiat currencies to buy and trade crypto.
“With these initiatives focused on opening access to Binance’s technology and resources […] we aim to limit the technical challenges for platforms and partners, allowing them to focus on their users and local fiat access and accelerate the global adoption of crypto.”
Notwithstanding, the new platform offers users a business to business to crypto exchanges (B2B2C) services allowing users to trade and make a wide range of solutions for their retail and institutional clients.