Binance Expansion Boosts Mass Crypto Adoption – The Launch Of Binance Cloud
Binance was recently in the spotlight due to an overload that was spotted.
During the past few days, Binance users have been increasingly complaining about tech glitches, such as delayed updates and interface errors.
Binance CEO said that many more people are using the platform now as opposed to the last time BTC hit $10,000 – and this is basically straining the system.
He also made sure to highlight the fact that this is a powerful sign hinting at the fact that the crypto market is recovering.
Binance launches Binance Cloud
Binance launches Binance Cloud – a new product that will allow partners to build exchanges for their very own markets while delivering Binance’s “technology, security, and liquidity.”
Binance Cloud features the exchange’s matching engine, trading risk management protocols, and security measures.
Boosting crypto adoption at a worldwide level
The product is designed to boost crypto adoption all over the globe by offering users a fast way to create the necessary plumbing.
This move also expands the company’s brand and one of the focuses is to establish its tech as a core building block for the industry;’s brand new infrastructure.
Binance CEO Changpeng Zhao said the following:
“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,” he said.
Zhao continued and explained that “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.”
At the moment, the crypto market is trying to recover after a significant Bitcoin price drop from the other day.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.