Binance Chain seems to be on a mission, as it is taking big steps in several directions. From mass adoption to industry integration, the ecosystem is expanding exponentially. Here are a few of the important recent developments:
Binance DEX Integrated With SafePal
SafePal, the guardian crypto hardware wallet, has completed integration with Binance DEX, the ecosystem’s decentralized exchange. This will allow DEX users to use the hardware wallet with the original credentials, have a seamless experience. Moreover, SafePal is backed by blockchain incubation arm of Binance Chain, Binance Labs.
Binance Adds Margin Trading For ONT And ADA
Binance has a vision to expand its footprint in crypto margin trading, a service popular for traditional assets trading globally. It officially announced margin trading service for Ontology (ONT), and Cardano (ADA). New pairings are ONT/BTC, ONT/USDT, ADA/USDT, and ADA/BTC. The margin trading platform was launched earlier in this month.
Binance Opens Block Trading Services
While the exchange already offers direct trading on its centralized and decentralized exchanges, it feels that the users with the larger transaction, mostly over 10 BTC, should have a personalized transaction, and hence it has now opened block trading services. In the official announcement, it said,
For large orders, trading over-the-counter (OTC) is a good alternative to trading directly on the exchange order books where you might affect the market price of the token and negatively impact your execution level. Transactions with Binance Trading are settled quickly and seamlessly into your Binance account.
The benefits of using block trading services include personalized Service, a large number of coin pairs, quick pricing, fast settlement, simplified procedures, reduction in counterparty risk.
Binance GBP (BGBP) Deposits And Withdrawals Go Live
Binance Chain revealed its first stablecoin coin backed by the Sterling Pound a while ago, and now, the BGBP is live for deposits and withdrawals on the ecosystem’s simplified trading platform, Binance.je. The only thing that Binance Chain lacked was a native stablecoin, which has now been completed. Interestingly, though the chain launched its traditional asset-backed token, Binance Chief Changpeng Zhao had stated that he isn’t a big fan of stablecoins.