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Binance

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This is an old revision of this page, as edited by MikoloIlas (talk | contribs) at 08:01, 15 January 2019 (Added statement about 2019 plans of Binance, removed irrelevant, unsubstantiated government report.). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Binance
Industrycryptocurrency industry Edit this on Wikidata
Founded2017
Founders
Key people
Changpeng Zhao (CEO)
ProductsCryptocurrency exchange
Websitewww.binance.com

Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies. Since early 2018, Binance is considered as the biggest cryptocurrency exchange in the world in terms of trading volume.

History

CEO Changpeng Zhao had previously founded Fusion Systems in 2005 in Shanghai; the company built high-frequency trading systems for brokers. In 2013 he joined Blockchain.info as the third member of the cryptocurrency wallet’s team. He also worked at OKCoin as CTO for less than a year, a platform for spot trading between fiat and digital assets.[1]

The company was founded in China but moved its servers and headquarters out of China and into Japan in advance of the Chinese government ban on cryptocurrency trading in September 2017.[2] By March 2018 the company had established offices in Taiwan.[1]

As of January 2018 it was largest crypto-exchange with a BNB market capitalization of $1.3 billion.[3]

In March 2018, Binance announced its intentions to open an office in Malta after stricter regulations in Japan and China.[4] In addition, Binance plans to move to Jersey to expand its European influence, having achieved a exchange license there, and plans to add fiat pairs including the Euro and the British pound to its supported currencies.[5]

In August 2018, Binance along with three other big exchanges raised $32 million for a stable coin project. The idea of stable coins is to provide a cryptocurrency without the notorious volatility of Bitcoin and other popular digital assets.[6][7]

In October 2018, Binance Uganda[8] launched as the first fiat-to-cryptocurrency exchange of Binance.

In December 2018, Changpeng Zhao revealed Binance's plans for 2019, including the launch of Binance Chain, a blockchain made by Binance, as well as a native high-performance decentralized exchange that will feature 1-second transaction confirmation times, enabling true instant transactions.[9]

References

  1. ^ a b Ambler, Pamela (7 February 2018). "From Zero To Crypto Billionaire In Under A Year: Meet The Founder Of Binance". Forbes.
  2. ^ Xiao, Eva (30 November 2017). "Three months after launch, this unbanked crypto exchange made $7.5m in profit". Tech in Asia.
  3. ^ Nakamura, Yuji; Lun, Haidi (2018-01-11). "World's Top-Ranked Crypto Exchange Adds 240,000 Users in One Hour". Bloomberg.com. Retrieved 2018-03-08.
  4. ^ Nakamura, Yuji (2018-03-23). "World's Biggest Cryptocurrency Exchange Is Heading to Malta". Bloomberg.com. Retrieved 2018-03-24.
  5. ^ "Crypto Giant Binance to Offer Euro Trading Pairs This Year". Bloomberg.com. 2018-06-11. Retrieved 2018-06-14.
  6. ^ "Binance and Other Crypto Exchanges Back $32 Million Stable Coin Project". Fortune. Retrieved 2018-08-30.
  7. ^ "Binance Backs $32 Million Funding for Unicorn Founder's Crypto Stablecoin - CoinDesk". CoinDesk. 2018-08-29. Retrieved 2018-08-30.
  8. ^ Uganda, Binance (2018-10-24). "Binance Uganda Launches Trading". Binance Uganda. Retrieved 2019-01-15.
  9. ^ "2018 Binance Year-End Review | Binance Blog". 2018 Binance Year-End Review | Binance Blog. Retrieved 2019-01-15.
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