Binance Exchange announced the addition of two new trading pairs to its exchange: XMR/BNB and XMR/USDT today. The trading of the pairs will begin on 2019/03/15 4:00 AM (UTC).
Binance has already listed a multitude of cryptocurrencies on its exchange platform. The two new trading pairs will be listed in addition to XMR/BTC and XMR/ETH pairs that are already available on the exchange. Monero’s USP is privacy induced via fungibility and anonymity; it is the most popular privacy-focused cryptocurrency.
Increased Interoperability and Decentralization
The total market capitalization of XMR on 14th March 2019 is around $880 million. While the 8th and 9th ranked by total market capitalization, Binance (BNB) and USDT Tether respectively have a cap of more than 2 billion dollars each.
Hence, trading pair inclusion is likely to be beneficial for all the three cryptocurrencies. The ‘tokenization’ of Exchanges through IEO (Initial Exchange Offerings) and the interoperability of cryptocurrencies will create a more favorable niche for cryptocurrency adoption.
The world’s largest exchange, Binance has lately released a plethora of products to facilitate the growth of cryptocurrencies. Binance was the first exchange platforms to open the floodgates of limitations on cryptocurrency listing and restriction of a new customer base.
Binance (BNB) cryptocurrency, Binance Decentralized Exchange and Trust Wallet together constitute the recipe of an entirely secure DEX. Morero aligns perfectly with their vision as it is one of the most decentralized cryptocurrency.
Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com