Last week, Binance CEO Changpeng “CZ” Zhao held an AMA where he shared a number of developments that would come to Binance.
CZ didn’t share much detail about these updates but ignited a lot of anticipation as he hinted at “Binance Cloud.” Speculations are rife about this decentralized cloud product that could be launched within as less as ten days.
This new product powered by the world’s leading cryptocurrency exchange would mark yet another major expansion on the company.
BNB surging amidst anticipation
Apart from several success stories, in 2020’s first AMA, CZ also talked about expanding its P2P crypto trading platform. It started with Chinese yuan and Vietnamese Dong and will be extended to the Russian ruble and then more markets.
Talking about this, CZ shared the cryptos remains in the exchange’s escrow wallet that are blocked for the duration of the transaction.
“We are the central escrow agent for this transaction, but the fiat remains in the P2P transaction. Binance does not touch fiat currency in this situation. Binance does not charge a fee for these transactions, because we want to attract more users to them,” explained CZ.
Binance’s Futures has already added 17 pairs, the latest ones being Cardano and its native token BNB. BNB futures are launching today with up to 50x leverage.
This has the price of BNB surging, leading the market with 8.68% gains trading at $24.93 while much of the market turns red.
“BNB/USDT bought in bigly just now. It’s finally moving and they have done a ton of buidling during the bear market. Easy 25% to next major resistance. Also in 8 days, Binance is unveiling “Binance Cloud.” Super bullish on BNB right now,” said analyst Satoshi Flipper.
Just the “Tip of the Iceberg”
Recently, the Indian P2P platform WazirX partnered with Binance and recently launched its successful Initial Exchange Offering (IEO) on its Launchpad. After Matic, this is the second blockchain startup to launch its IEO on Binance’s Launchpad.
More interesting updates are coming for Binance’s DEX in the form of smart contract support, TSS security measures, privacy features, and dark pools.
During his live Periscope, CZ also said that all of this is just the “tip of the iceberg,” for crypto adoption that will take place over the next 30 years.
His future plan for Binance also involves growing to a level where it isn’t dependent on any single individual or entity but is decentralized, fully autonomous.
