Binance is the world’s largest cryptocurrency exchange by daily volume, and its coin is the 13th largest cryptocurrency project by market capitalization as of press time. The company apparently also plans to launch the “Binance chain”. The development was announced by the company in a tweet, referencing it as an example of the company “pushing for blockchain adoption”. It also stated Binancechain as a platform “on which millions of projects can easily issue tokens.”
At a private Forbes Asia event, Binance CEO Changpeng Zhao elaborated on the project. Forbes reporter Michael del Castillo quoted Zhao in a tweet. Apparently, Zhao was quite optimistic about the future of Binancechain, stating:
“We are launching Binancechain very soon, in a couple months or so, and you will be able to issue coins on that…I think there will be millions of coins and thousands of blockchains.”
Although the cryptocurrency markets have been bearish for most of the year, Binance is still profitable, Zhao claimed in a CNBC South Africa interview several weeks ago. Despite the fact that the overall volume was down on the exchange for the year – Zhao also pointed out that,
“We are still signing up a steady amount of new users every day.”
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