Binance today announced the launch of their exchange-specific Binance Cloud service. This will allow third parties to use the proven technology, liquidity and security of the Binance platform. The launch is in line with the Binance’s “Open Platform” initiative of promoting cryptocurrency access and blockchain technology, globally. The first major cryptocurrency exchange using the Binance Cloud will launch in Mar 2020.
Binance Cloud features all in one solution via an easy dashboard interface, enabling easy access to the core functionalities of the Binance platform and their integration, allowing clients to set up digital asset trading services (both spot trading and futures perpetual contract) in their local markets, integrating local bank API and P2P (FIAT-Crypto) services. It will allow for brand customizations and selective features, so interested parties and institutional operators can truly make the platform their own.
As a part of Binance’s Open Platform initiative to enable more crypto access globally, Binance Cloud supports its customers and global partners with a complete turn-key exchange platform solution, consolidating the new financial infrastructure to an open platform based on blockchain technology. With these initiatives focused on opening access to Binance’s technology and resources as an infrastructure provider, we aim to limit the technical challenges for platforms and partners, allowing them to focus on their users and local fiat access and accelerate the global adoption of crypto.” Binance Cloud is a product suite previously missing from the market. We are eager to share the quality experience of Binance through different brands, communities, and markets globally. – Binance CEO Changpeng Zhao on the launch of Binance cloud
What Will The Binance Cloud Bring In The Future?
Currently, the Binance Cloud features the major functions of the Binance platform such as the ability to manage funds, trading pairs, coin listings, multilingual support, order matching, risk controls, security system, market depth and liquidity systems etc. Besides the obvious and inherently necessary branding option and feature control functionalities.
“Theoretically speaking, we can let anyone in the world create their own exchanges, and the demand is huge.” – @cz_binance
Read about what #Binance Cloud means for crypto on @business @crypto via @pingroma.https://t.co/sHNrtKMoyA— Binance (@binance) February 18, 2020
In the future, according to the press release, it will provide Over the Counter (OTC) trading, staking and ability to run Initial Exchange Offerings (IEO) also. Keeping in mind the Binance rapid deployment speed, it is most likely to be active soon.