Dash cryptocurrency, the 15th most valuable blockchain by network value is the latest addition to the leading cryptocurrency exchange platform Binance. In an announcement post published on Wednesday, March 27th, the Malta-based exchange revealed that Dash will be paired against the platform’s native currency Binance Coin [BNB] and the stablecoin Tether. Trading for these pairs would be enabled on Thursday, March 28th starting at 4.00 AM (UTC).
This move by Binance to list Dash represents a significant step up by Dash in terms of growth and access to the payments network to a wider audience. Binance is the leading exchange platform by daily adjusted trading volume and number of users.
The exchange’s native token BNB has grown exponentially in terms of value in a comparatively short amount of time to claim a spot in the top ten most valuable digital assets on the Coinmarketcap list. It currently sits at number 7 with a market cap of ~$2.4 billion.
Binance is in the process of launching a decentralized exchange dubbed Binance DEX (Decentralized Exchange). The DEX will be based on a brand new blockchain also aptly named Binance Chain and BNB tokens will eventually be migrated from the ERC-20 standard they currently are based to the new Chain platform. It is expected that once the DEX launches, Binance will enable support for all listed tokens and coins on the current centralized platform, which now includes the Dash coin.
Listing on Binance is a particularly significant move for Dash which has embarked on a quest to increase adoption across the globe. Over the past few months, the currency has ramped up adoption metrics in the Latin America region both from an individual perspective and merchant adoption. Columbia and Venezuela are the leading countries with the largest number of merchants so far.
To ensure further adoption, the Dash Core Group has entered into partnerships with mobile phone manufacturers to ensure that individual who purchase the phones also get access to a preinstalled Dash wallet.