Binance, one of the most popular and recognized cryptocurrency exchanges in the world continues to expand and offer new services to users and clients.
The last week has also been very interesting for Binance and the goal is to continue offering some of the most innovative solutions to users. Binance reviews will help you understand whether this is the correct crypto exchange for your needs.
In this article, we will go through some of the Binance news that took place this week and that had a direct impact on the exchange’s business.
DAI And Kava Supported on Binance
One of the most important Binance news this week is related to Binance adding support to Kava and DAI staking on its platform. These Decentralized Finance (DeFi) projects are now going to be available on Binance’s platform for users to start earning staking rewards on these two coins.
These are just two of the most important projects in the DeFi market. Decentralized Finance projects have been massively expanding in recent months and Binance is ready to offer great solutions to users that want to stake both Kava and DAI tokens.
Users will get an annualized earning of around 12% per year depending on the term to maturity and the digital asset.
Binance Helps Take Down Cybercriminals in Ukraine
Binance is playing an important role in making the cryptocurrency market a much more secure place. The exchange has helped Ukrainian authorities dismantle a criminal organization in charge of laundering money and conducting ransomware campaigns on the internet.
The suspects have been arrested in June 2020 and more than $200,000 in goods were seized by the police. In addition to it, the Binance “Sentry” division has been working with other blockchain analysts in order to identify the people involved in these activities.
This is one of the first successful collaborations between a crypto exchange and law enforcement agents that were trying to dismantle cybercriminals.
Binance-Backed WazirX Enters the DeFi Market
The cryptocurrency exchange WazirX, which is owned by Binance, has launched a new DeFi protocol side by side with Matic Network. The main goal is to launch an Automated Market Maker (AMM) Protocol that would allow users to trade cryptocurrencies without having an order book.
At the same time, this solution is going to be increasing market decentralization for users to be able to trade tokens without a centralized organization working as an intermediary.
On the matter, the COO and co-founder of WazirX, Siddharth Menon, stated:
“We at WazirX want to bring the future of finance today and build infrastructure for the next big thing for small and big investors.”