Most controversial cryptocurrency exchange, Binance has announced the launch of its first-ever cloud exchange, Binance.KR and has activated a zero trading fee policy for traders for up to three months. The official announcement was made today, Thursday 2nd of April, 2020.
Binance took to its official blog platform earlier today to announce to its community that it made another progress early into the second quarter of the year. Adding to the already made developments at the popular crypto exchange, a cloud exchange, the first of its kind, has just been launched by Binance and this has raised some excitement within the crypto community.
According to the official announcement, the Korean crypto exchange, Binance.KR is the first of many expected crypto exchanges to be using the cloud solution by Binance. Although full exchange functionalities are yet to be implemented, registration, as well as deposits on the platform, have been enabled.
As the platform prepares for a full-force take off by April 6, traders have the first time the opportunity of zero trading fees covering all markets until the 30th of June. And withdrawals will be enabled about a week after the initial launch of the platform.
Also, the announcement included that Binance customers on binance.com can also start trading Binance KRW (BKRW) from April 6th.
Binance Unto Other Accomplishments
Elsewhere, Binance is said to be in the final stage of negotiations on the acquisition of a popular crypto rating platform, CoinmarketCap(CMC). According to the report, Binance has made an offer of about $400 million, which at the moment, seems likely to be enough to pull off the deal.
According to a recent report by Coinpedia,
“Latest information from Binance indicates that the exchange is in the final stages of concluding a deal to acquire CoinMarketCap.com. The payment for the site is expected to be executed partly via cash and partly via stocks. Once complete this could become the biggest acquisition in the history of cryptocurrencies.”