Binance to Unveil Fiat Trading Info

Fiat trading option is expected to be launched by the end of 2018
12 June 2018   1390

One of the leading crypto exchanges Binance intends to provide its users with the opportunity to trade fiat. It is expected that by the end of 2018 this option will be available, Bloomberg reports.

This statement was made by the CEO of Binance Changpeng Jao.

According to him, the addition of fiat pairs was made possible by opening an office and a bank account in Malta. Also, the exchange plans to add other financial currencies, but the head of the exchange did not disclose the details at this stage.

In addition, Binance plans to obtain an exchange license for Jersey Island and to open an office there with a staff of 100 employees. The company also negotiates with the authorities and banks of Taiwan, Changpeng Jao ​​added.

Binance Exchange was founded in July 2017 and by now the number of users of the exchange is 9 million people, while at the beginning of the year there were 2 million. In the first quarter of this year, the company earned $ 200 million with an average trading volume in the range between $ 1, 4 - $ 1.5 billion.

Huobi to Launch Own Public Blockchain

It is planned that the FinanceChain code will be opened in the third quarter, and the launch of the test network will take place in early 2020
02 July 2019   259

Huobi, a large cryptocurrency exchange, is going to launch its own public blockchain focused on services in the field of decentralized finance (DeFi). This is reported by The Block.

As part of the FinanceChain initiative, the marketplace has entered into a partnership with a startup Nervos. It is expected that the new platform will allow exchanges and other financial companies to launch their own blockchains, token up assets and provide various DeFi-services. In particular, FinanceChain will support the launch of credit services, stablecocks, offers of security tokens (STO), decentralized exchanges and various payment services.

More and more assets are being tokenized and moved to the digital world, including both native cryptocurrencies and traditional physical assets.

Kevin Wang

Co-founder, Nervos

It is expected that the FinanceChain code will be opened in the third quarter, and the launch of the test network will take place in early 2020. The launch of the main network of the new blockchain is scheduled for the second quarter of next year.

The system will support decentralized identification, and KYC tools will be built into it to ensure compliance with the requirements of anti-money laundering legislation (AML). Moreover, Huobi noted that the regulators themselves will be able to join the network as validators.

Mainstream blockchain systems (such as BTC, ETH, EOS, etc.) lack comprehensive support for regulation and compliance, limiting their use in the compliance market. 

Leon Li Lin

Founder and CEO, Huobi

It should be noted that in April, the launch of the main network Binance Chain.