Binance, a global cryptocurrency exchange, will announce a new product called ‘ Binance Cloud ‘ within 10 days, CEO Changpeng Zhao said, in a revealing’ Ask Me Anything’ (AMA), under his direction, pointed at a new line for the big cryptocurrency exchange.
Binance Cloud Unvieled in 10 Days
While Zhao hasn’t shared much, he said they’ll be ready to introduce a new product within the next 10 days–the keyword is’ Binance Cloud.’
In addition, Zhao announced the launch of peer trade for pairs with the Russian ruble on Binance. It is important to emphasize that the above event took place without any additional announcements from the exchange, and Zhao noted that the option had been added “a few days ago”
Vietnam and China is a Start, New Markets on the Way
Previously, RMB and Vietnamese Dong were available for peer-to-peer trading. Peer-to-peer ruble trading is currently available on Android devices through the Binance cient but not for IOS. Some users have already started to submit proposals for purchasing and selling cryptocurrency for rubles, but there aren’t too many of them so far.
“The cryptocurrency remains on Binance.com in our escrow wallet and is blocked for the duration of the transaction. You can pay by cash, bank transfer or any other method that you prefer to use in your country. After the seller confirms the receipt of money, Binance will transfer. We are the central escrow agent for this transaction, but the fiat remains in the P2P transaction. Binance does not touch fiat currency in this situation. Binance does not charge a fee for these transactions, because we want to attract more users to them. ”
On the network all users who engage in a P2P transaction must be authenticated. This is done to minimize the risk of fraud. Zhao called for cooperation from P2P merchants who have secure access to fiat networks in their countries.