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Binance launches cloud solution to simplify launching cryptocurrency exchanges

Image by Binance

Tue, 18 Feb 2020, 05:36 am UTC

Leading global cryptocurrency exchange Binance has announced the launch of a new solution that will enable customers and partners to launch digital asset exchanges.

Called Binance Cloud, the exchange-specific cloud solution will help partners and customers to efficiently set up a digital asset trading platform in their local markets by leveraging "Binance’s industry-leading technology, security and liquidity."

“Binance Cloud is a product suite previously missing from the market,” said Changpeng “CZ” Zhao, CEO of Binance. “We are eager to share the quality experience of Binance through different brands, communities, and markets globally.”

According to a press release, Binance Cloud will mirror core functionalities of Binance's global exchange, including robust matching engine, trading risk controls and big data security system, among others. It will allow institutions to set up digital asset exchanges with features such as spot market and futures trading, local bank API integrations and peer-to-peer (P2P) fiat-to-cryptocurrency exchange services.

"The Binance cloud solution allows a wide range of institutions to launch a platform that offers global payment and cryptocurrency trading capabilities, while also allowing for brand customization and features control," the exchange said.

Binance considers this an “all-in-one solution” as it allows customers to manage funds, trading pairs, and coin listing through an easy-to-use dashboard. It also comes with multilingual support, permits depth-sharing with, and offers opportunities to collaborate with others.

“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,” said CZ.

Binance Cloud will be adding more features for its partners in the near future including staking and over-the-counter (OTC) trading services and token launch capabilities via IEO (initial exchange offering) platform. The first major digital asset exchange fully powered by Binance Cloud will launch next month.

Meanwhile, Binance has applied for an operating license in Singapore under the country’s new payment law. CZ said that the team is in close contact with the local regulators.

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