The launch of Binance Cloud was announced on 8 February by Binance CEO Changpeng Zhao, but was introduced 9 days later on February 17. According to Zhaa, it is intended for users who are willing to run their own cryptocurrency exchange.
The Binance Cloud is intended to serve as a platform with the built-in infrastructure of Binance, using its state-of-the-art technology, security and liquidity to build a new exchange office with cryptocurrencies. The solution offers an information panel for resource management, multilingual functionality, and a wealth of business pairs and cryptocurrencies.
Zhao says that those interested in this service can create their own currency exchange using Binance Cloud within three to five days. The new service is aimed primarily at entrepreneurs who would like to open a cryptocurrency exchange in regions where Binance itself is not yet represented. The platform will therefore enable Binance to reach where it has not been possible.
“Binance Cloud is a product package that was previously missing from the market. We are pleased to share our experience with Binance through various brands, communities and markets around the world,”said Zhao.
The boss and founder Binance reiterated that the primary goal of this product is to get cryptocurrencies to people around the world. Even where they haven’t done it themselves yet. Zhao also recently stated that by the end of this year they would like to provide support for up to 180 world currencies on Binance services.