Binance Says to Become an Open Platform

Binance Says to Become an Open Platform

Binance, a global cryptocurrency exchange, has described its future vision and mission as an open platform through its official blog page, through which other companies can use it to expand.

According to the blog post, Binance has confirmed that it is working in the future to develop its business as an open platform. The crypto exchange, which provides both centralized and decentralized blockchain services, works to make the business more open and allow its users access and independence.

The crypto exchange platform offers its users to trade with more than 100 crypto assets. The firm has seen tremendous growth in the volume of trading since its launch back in 2018, thereby earning the title of the world’s biggest crypto exchange.

According to CEO Changpeng Zhao, 2019 was the year the company was constructing its base, whereby the developer team worked hard to see the foundations for the decentralization kick-off.

CZ has assured Binance customers of a more stable and rapid platform that respects every user in his 2020 New Year Message. The company has grown from crypto-to-crypto to a more diverse crypto and finance business.

In 2019, Binance launched its decentralized exchange, Binance DEX, on its blockchain network to facilitate the user’s de-centralized access to crypto exchange. The company is making crypto-assets more available in a decentralized way with the aid of Trust Wallet.

Having built the basics over the past few years, the company is now focusing on infrastructures to help other people build their own businesses on the Binance blockchain ecosystem.

This will include; enabling trading, offering more or less liquidity spreads, providing safe and reliable crypto wallets and much more.

Binance Open Platform

Binance has provided a number of steps to take in order to shift from a centralized system to a decentralized one. This will lead the company to become an infrastructure supplier to the crypto community.

According to the blog post:

“One initiative in the Open Platform concept is the recently launched Binance Broker Program where any other exchange, platform or institution can bring Binance’s liquidity and market depth to their users through an API that provides order-matching services, account management, settlement systems and more.”

It is worth mentioning that, Cryptolydian announced earlier that Binance CEO Says Binance Cloud May Be Unveiled in 10 Days.

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Abdulhay Mahmoud 414 Articles
Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.