Recent Binance Updates
- Binance is to hire 300 individuals from over 39 countries for its new startups and ventures
- The platform launches up to 10 fiat-to-crypto exchanges in almost all continents.
- Blockchain Charity Foundation, headed by Helen Hai, launched by Binance.
Binance, one of the world’s largest crypto exchanges (by volume) in the world, plans to go worldwide by setting up Fiat-to-crypto trading platforms in almost all continents.
After the Coindesk consensus event in Singapore, the CEO Zhao Changpeng in an informal chat shared his vision. He also shared how he grew his ICO with $15 million to one of the world’s largest crypto exchanges.
And in a discussion with Coindesk’s Pete Rizzo, Zhao disclosed his plans to expand Binance by setting up fiat-to-crypto exchanges ideally two per continent. And this includes the current efforts to roll out a Binance exchange in Singapore that supports fiat-to-crypto trading services.
— CZ Binance (@cz_binance) September 15, 2018
Speaking with Bloomberg in an exclusive interview, the newly hired CFO, Wei Zhou, corroborated the sentiment of a hiring spree by the CEO stating,
Our goal right now is to continue to grow the ecosystem, not just for cryptocurrency, but for the blockchain industry as well. The next area of growth, in addition to the crypto-exchange, is the move into fiat.
Although the move made by Binance seems pivoting, CZ says that “Fiat is still where all the money is in. … And we’ve got to open that gate.”
Binance has further planned to hire talent from all around the globe, 300 people to be specific and from 39 different countries. Agreeing with this the CFO, further adds that this amount of individuals aren’t enough to support firm’s zealous future plans.
Adding to the above quote, ZC says confirms that in order to expand and flourish they are citing deals and partnerships with smaller more crypto-compliant countries like Malta. And they have plans to launch a startup in Malta for the same purpose.
Binance has seen an addition of 148 tokens over the last 12 months and has 381 trading pairs. And moving forward, Zhou said that the exchange is turning down the majority of applicants.
Quoting in his words, “I think it’s harder to get into Binance than it is to get to Harvard and Stanford. It’s like less than 2 to 3 percent acceptance rate in terms of tokens we’re looking at.”
Binance is the first in a blockchain ecosystem to initiate charity, the Blockchain Charity Foundation, headed by Helen Hai.
— Blockchain Charity Foundation (@BinanceBCF) September 22, 2018
In the latest updates, Binance has listed Paxos Standard Token (PAX) and also opened deposits for the same.
— Binance (@binance) September 21, 2018
PAX is a stable coin issued by Paxos Trust Company and is designed to be pegged one-to-one with USD. To create transparency Paxos has engaged a top-ranking auditing firm to release monthly balance attestations.
You can also check out speech from Binance CEO- Zhao ChengPeng here: