Binance, one of the largest cryptocurrency exchanges in terms of trading volume, announced it is launching a new platform dor developers known as “Binance X.” The main goal behind it is to increase the adoption of virtual currencies around the world. The information was released by the exchange during a conversation with The Block.
Binance Exchange Launches New Developer Network
As per the report, Binance X will allow developers to improve the whole cryptocurrency ecosystem. That means they would be able to collaborate with different projects, including the Binance Chain. Binance Chain is the blockchain network created by the exchange and it allows developers and companies to launch their tokens on top of it.
Teck Chia, the Head of Binance X, commented about this initiative:
“The long-term goal of Binance X is to foster a thriving developer ecosystem that innovates on products and services that would advance the crypto ecosystem and contribute to crypto adoption.”
Chia went on saying that there are several developers that are working in the cryptocurrency industry and building projects on top of blockchain technology. Binance wants to be close to them and help them succeed through all the stages of their development.
Just a week ago, Binance released an image on Twitter about Binance X and the announcement they were going to make.
.@BinanceX is coming soon. Meet the team at #ETHBerlin. #BUIDL pic.twitter.com/0bPYjDhk9s
— Binance (@binance) August 23, 2019
In a blog post released by Binance, they informed that they want to work on the infrastructure that would enable “the freedom of money.”
The exchange is expanding its services and projects in the cryptocurrency market. Binance is also the owner of a multi-chain, non-custodial wallet called Trust Wallet and a public blockchain with native DEX capabilities known as Binance Chain. The crypto exchange was launched back in 2017 and it was able to attract a large number of investors and traders. Since then, the services provided by it started growing reflecting a genuine interest in the crypto market.
With Binance X, they have launched a platform that third-party developers can build and leverage for their own products and services. Based on “Learn, Collaborate and Grow,” Binance will be offering solutions and tools to developers that want to improve the whole cryptocurrency market.
In addition to it, Binance has released the Binance X Fellowship Program that was designed to support talented developers that were working creating free and open-source software that would help the whole crypto economy.
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