Binance intends to open 5 to 10 new platforms in 2019

Binance intends to open 5 to 10 new platforms in 2019

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Answer Binance intends to open 5 to 10 new platforms in 2019

The largest cryptocurrency exchange by trading volumes, Binance Platform, has revealed its desire to open a trading platform on all continents around the world.

That was Within the activities of the CoinDesk conference in Singapore, where . spoke Founder of Binance, Zhang Peng Chao, on how the platform went from being a $15 million Initial Coin Offering (ICO) to one of the largest cryptocurrency exchanges around the world.

During the discussion period at the conference, Zhao mentioned that this time next year, Binance intends to open 5-10 Crypto-to-Fiat exchanges, at a rate of two per continent.

Read:Binance dominates spot trading volume in light of the FTX crisis

This move comes after the Binance platform announced this week the launch of Closed test for cryptocurrency trading against the Singapore dollar It comes as part of its plans to expand and provide more comprehensive services in the field of digital currencies.

Binance hopes to have a crypto-to-fiat trading platform ready within months, despite the expected difficulties and hurdles from banks and regulators.

Zhao added that the platform is constantly looking to work with relatively smaller countries, and noted their recent partnership with countries such as Malta and Uganda. He explained that the main reason behind this is that these countries tend to cooperate in a more effective manner.

“In relatively smaller countries, you can reach out to senior officials directly to ask questions and get clear answers… They also know the importance of attracting investment into their local economy,” Zhao said.

This new step comes after the Binance platform achieved very high profits during the current year, despite the decline in cryptocurrency prices. Zhao confirmed that the Binance platform has achieved profits of $ 200 million so far.

Read:Ripple CEO: Ripple SEC’s indictment means all cryptocurrencies are indicted

Commenting on the platform’s rapid growth, Zhao said, “Luck has played a key role in our success in addition to the effort we put in and our choice of the right time to enter the crypto market.”

When Zhao was asked if he was concerned about market volatility and the impact of falling prices on Binance’s business, he replied that he sold his house in 2014 to buy bitcoin, after which its price dropped from $600 to $200. Despite the noticeable decline, he did not sell, and therefore he is not worried about the future of cryptocurrencies.

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