Binance will be launching Binance Cloud platform, a digital asset trading platform that can be rebranded by smaller exchanges for their local markets.
Binance Cloud will offer local exchanges spot market and futures trading, as well as local bank API integrations and peer-to-peer (P2P) fiat-to-cryptocurrency exchange services.
Boosting Adoption of Crypto
The exchange provides an advantage by enabling developers to set up their own functional exchanges in their local markets. While the exchanges are expected to start out small from spot trading markets, the Cloud will provide users with extensive features including futures and options trading markets. Binance CEO stated the launch of Binance Cloud is set to help the exchange meet its goals of providing over 180 fiat currencies to buy and trade crypto.
Binance Cloud will serve as an all-in-one infrastructure platform for customers and partners to launch digital asset exchanges. The solution also supports dashboard for managing funds, multilingual functionality, as well as a range of trading pairs and coin listings.
Binance Cloud plans to add more features like staking, over-the-counter trading services as well as token issuance with initial exchange offering platform.
The goal of Binance Cloud is to simplify exchange launches so that operators can spend more time focusing on customer service and promoting digital currency adoption:
“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 CEO Changpeng Zhao