World’s largest crypto exchange platform Binance has come with yet another launch. The exchange revealed its future plan by declaring that it will launch its own blockchain ‘Binance Chain’ in the ‘coming months,’ according to a tweet.
The tweet by the exchange states, “Binance is pushing for blockchain adoption and doing many things to help the advancement of the industry. E.g. we will have the Binance chain ready in the coming months, on which millions of projects can easily issue tokens.”
Reportedly, at the “Decrypting Blockchain for Business” event in Singapore, Binance’s CEO, Chang Peng Zhao, popularly known as CZ stated that Binance will launch Binance Chain. Giving details, he said that that the new plans indicate a traditional vision of crypto, that will expectedly lead to increasing its adoption on a global scale.
The CEO of the leading exchange further stated, “Fundamentally, I would like to see payment adoption increase. That’s the original intent, but for some reason that’s not taking off, so we’re pushing really hard into that space.” with that, the Binance Chain is expected to go live during early 2019.
The overall crypto atmosphere is going through a downward sentiment, due to which Binance’s volume drop by over 50 percent. However, the exchange CEO affirms that the exchange’s business as ‘very stable.’ He added that while Binance possessed 10 percent of the trading volumes they had in January 2018, the volumes are still higher than those of ‘two or three years ago.’ CZ believes that the future of cryptocurrency is still very promising.
Notably, after this announcement of binance chain by the exchange itself, its native token BNB has jumped by over 12% against the U.S. dollar.
Recently, Binance stepped into two major collaboration, one of them with Decentraland. Decentraland provides a virtual reality platform. Also, the blockchain-based hotel booking platform named Tripio has announced the partnership with the exchange.