By
Chimamanda U. Martha
April 18th, 2024
Binance Cloud will help users and developers to launch their own digital asset exchanges using Binance’s technology and liquidity.
Binance, a leading crypto exchange and blockchain company, through its official website, announced the launch of its cloud system dubbed Binance Cloud. Binance Cloud is an infrastructure tailored for Binance customers to launch their digital asset exchanges.
The customers utilizing the cloud system will be able to access Binance liquidity and its leading technology systems guaranteeing the security of their customers. The cloud solution will also mirror the main features of the Binance global exchange like the trading risk controls, large data security system, and also Binance matching engine.
What Binance Cloud Solution Entails
According to the blog post, the cloud solution will provide the customers with a means to set up a digital asset trading platform right in their respective jurisdictions. Some of the extra features that Binance cloud customers will enjoy include futures trading, spot market and also the local bank API integration with a peer-to-peer fiat to crypto functionalities.
The cloud solution will be added more functionalities to assist institutions to start their trading platform which accepts global payment and crypto trading capabilities.
According to Binance CEO Changpeng Zhao, Binance Cloud is part of the company’s vision to be an open platform whereby it provides its customers with transparent and reliable crypto and blockchain services. CZ stated:
“With these initiatives focused on opening access to Binance’s technology and resources as an infrastructure provider, we aim to limit the technical challenges for platforms and partners, allowing them to focus on their users and local fiat access and accelerate the global adoption of crypto.”
Binance Cloud is dubbed as an all in one package solution for its customers since it has very easy to use dashboard interface. According to the blog, the cloud solution will be a big leap in customers needing a platform to manage funds, coin listing, with multilingual capabilities, provide trading pairs as well as depth-sharing with the mother company systems.
Binance announced that it is working on improving the cloud system to add more capabilities in the near future. Some of the features will include over the counter trading services, token launching capabilities through an initial exchange offering platform, and also staking.
In addition, the company is said to be developing new products beyond the P2P brokerage and cloud system through its open platform initiative.
Moreover, Binance has opened the position of a senior cloud engineer to join the cloud engineering and architect team in Asia. The full-time onsite position is in line with the new initiative to further the open platform and improve the new product Binance cloud