Binance to Launch Exclusive South Korean Cryptocurrency Exchange

Binance to Launch South Korean Cryptocurrency Exchange

South Korean Cryptocurrency Exchange NewsBinance exchange CEO Changpeng Zhao (CZ) is on the move again. Yesterday, CryptoZink reported the eccentric founder is finalizing a deal to acquire crypto price index, CoinMarketCap for $400m. Binance will make an official announcement sometimes next week.

Furthermore, the firm announced today the impeding launch of a South Korean cryptocurrency exchange or trading platform, exclusively designed for SK citizens.

Binance’s new cloud system

The South Korean cryptocurrency exchange, powered by a new cloud infrastructure dubbed, Binance Cloud. The platform was officially launched on February 17.

The press release describes the system as:

“an infrastructure solution for customers and partners to launch digital asset exchanges leveraging Binance’s industry-leading technology, security and liquidity.”

Binance explained further:

“provides partners and customers with a means to efficiently set up a digital asset trading platform in their local markets, with features that include spot market and futures trading, as well as local bank API integrations and peer-to-peer (P2P) fiat-to-cryptocurrency exchange services.”

Changpeng Zhao (CZ) also stated:

“As a part of Binance’s Open Platform initiative to enable more crypto access globally, Binance Cloud supports its customers and global partners with a complete turn-key exchange platform solution, consolidating the new financial infrastructure to an open platform based on blockchain technology

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.”

According to the announcement, Binance Cloud solution is:

“an all-in-one solution, featuring an easy-to-use dashboard that allows customers to manage funds, trading pairs and coin listings, as well as multilingual support, depth-sharing with the global exchange, and more opportunities to collaborate with the ecosystem.”

More exchange features coming

Moreover, the firm hints at introducing more exclusive features in the near futures in order to keep their partners happy.

“staking and OTC (over-the-counter) trading services, as well as token launch capabilities via an IEO (initial exchange offering) platform.”

The newest South Karean cryptocurrency exchange

Binance‘s South Korean cryptocurrency exchange is the first of such trading platform powered by the new cloud system. The continent (Asia) third largest economy residents can start registration on April 3 at 9am EST (10:00 KST). Trading begins the next day (4th) at the same time.

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