BNB Mainnet Swap to be Performed

It's worth noting that the addresses of users for making deposits in BNB were updated
23 April 2019   826

Binance cryptocurrency exchange announced the successful completion of the exchange of its own digital asset Binance Coin (BNB), released using the Ethereum blockchain, for its version in the Binance Chain network.

The exchange draws attention to the fact that after the completion of the swap tokens, the addresses of users for making deposits in BNB were updated.

The original ERC20-BNB can still be entered into the exchange using the wallet address in the Ethereum blockchain. The exchange automatically converts the tokens credited in this way to the asset of their blockchain.

In addition, currently users can access the output of BEP2-BNB to the address of the official web wallet Binance Chain.

CEO Binance Changpeng Zhao on Twitter confirmed that his company had previously followed this promise and destroyed 5 million ERC20-BNB, in exchange for which it credited the equivalent volume of new tokens.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   261

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.


Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.