Binance CEO officially announced the inception of the Binance Cloud on 17th February, stating that it will allow users to set up crypto exchanges on Binance’s cloud infrastructure.
Though the CEO had hinted at the new developments on the 8th February, crypto enthusiasts had to wait 9 more days to test out Binance’s industry leading infrastructure in creating their own crypto exchanges.
Binance’s Superior Infrastructure
There is no doubt that Binance has one of the best, if not the best, infrastructures in the crypto markets.
The newly released Binance cloud wills as a one-stop shop for customers to host their unique digital assets exchanges, with the added support of Binance’s superior liquidity and custodial services. The solution further offers coin listing, trading pairs, and multilingual functionality.
Boost To Local Crypto Traders
Trading in Crypto currencies has largely been confined to very developed economies who have created their own crypto exchanges suited to their needs.
With the new Binance cloud, local traders and companies can create exchanges that integrate with their own local financial systems.
Some markets allow for futures trading but have an underdeveloped crypto spot market, whereas others are the reverse, therefore, it would be an added advantage if these local traders have an exchange that prioritizes them and the needs of their markets.
Looking To The Future
The disruptive nature of crypto exchanges on trading is still unravelling and therefore many new changes are in the offing.
Binance founder and CEO Changpeng Zhao, announced through a Binance blog post that the new Binance cloud will in future offer staking and initial exchange offering platform which will incredibly improve its peer to peer coin to fiat exchange services.
These new changes will undoubtedly lead to a fresh wave of innovations in other exchanges in the developed world and these changes will liberalize crypto trading for all traders and new entrants.
Binance is poised to apply for new licenses in non-traditional markets. After recently receiving a license to operate in Singapore, Binance will leverage on its cloud infrastructure to ease trading for people not previously covered by Binance services. Eventually, these developments will catapult Binance to the top of the exchange food chain.
