The huge exchange is expected to bring significant new liquidity to the Waves ecosystem.
Binance, one of the world’s most popular crypto exchanges, is adding WAVES to its extensive list of currencies. The WAVES/BTC pair will bring a large number of new traders and a significant influx of capital to the token, helping to pave the way for the next wave of global adoption.
China-based, but international
Binance (the name is a combination of ‘binary’ and ‘finance’) is a Shanghai-based cryptocurrency trading site that serves the Chinese, Japanese and Korean markets. Despite only launching earlier this year, on 14 July 2017, Binance has quickly built volumes of hundreds of millions of dollars, with ETH, BTC and several other currencies seeing eight-figure dollar equivalents changing hand every day. Binance comfortably sits within the Top 5 of exchanges by volume.
Although Binance had to deal with the crackdown on ICOs in China shortly after launch, it managed to escape largely unscathed due to the fact it is registered outside of China, with servers also outside the country. The company held a successful fundraiser less than two months after its launch, and boasts a star team, with major industry figures from Morgan Stanley, and OKCoin heading up the project. Rather than being solely an exchange — albeit an extremely popular one — Binance has positioned itself as forward-looking and also offers an ICO platform, blockchain media section, and blockchain funds too.
“Waves has consistently shown itself to be an innovative, serious platform in the blockchain space,” comments Binance CEO Changpeng Zhao, who previously served as Head of Development at Blockchain.info and CTO of OKCoin. “There are strong parallels and synergies in what the two platforms are seeking to achieve in terms of scaling and adoption, user experience and the mainstreaming of blockchain technology via every avenue possible. We welcome WAVES to Binance and believe this will be the beginning of a long and fruitful partnership.”
Binance has positioned itself as a high-performance exchange able to meet the large and increasing demand for crypto trading. Its order engine is capable of handling 1.4 million transactions per second; its UX is cross-platform and can be accessed on a wide range of devices; trading fees are just 0.1%; and fiat trading is dealt with via USDT — putting it in a more relaxed regulatory position than if it dealt directly with fiat currencies.
“Exchanges like Binance are the future of crypto trading,” comments Waves CEO Alexander Ivanov. “With a professional team, advanced platform and plans to decentralise their order engine, it’s great to be partnering with an organisation who have a real vision for how this sector should look and where it’s going in the coming months and years.”