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Binance Will Launch Its Own Blockchain to Create Cryptocurrencies

Representatives of Binance, the largest cryptocurrency exchange in the world, announced the launch of its own blockchain, Binance Chain, in the coming months, which will allow “millions of projects” creating new cryptocurrencies and conducting ICOs.

The Head of Binance, Changpeng Zhao, explained for “130 richest people with influence in Asia” at the Forbes event in Singapore that these plans correspond to the long-established vision of the development of crypto-industry and should contribute to a more active distribution of cryptocurrencies in the world. According to Zhao, Binance intends to work seriously in this direction, since the initial intention to increase the use of cryptocurrencies for making payments was not implemented for some reason.

It should be recalled that Changpeng Zhao speaking with a position on the situation of the cryptocurrency market in November emphasized that despite the decrease in trading volumes and prices for crypto-assets, the business “is all right” in general, and it is still healthy.

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InvestorGreg Editorial Team

The InvestorGreg Editorial Team is a group of financial writers and analysts who cover the worlds of finance and investment. Read more