Tag: Binance

BUSD — Binance and Paxos Stablecoin Latest to Get US Regulator Consent

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Over the course of the past few weeks, the global cryptocurrency community bore witness to two major announcements related to stablecoins — with the first being the launch of Paxos’s gold-backed Ethereum token, PAX Gold (PAXG), and the other being the release of Binance’s cryptocoin backed by the United States dollar (BUSD).  Paxos, a global digital asset trust firm, announced the launch of its PAXG token via a press release a few days back. In the document, the firm claims that its product is the world’s first crypto asset to…

Binance Charity Accepts Cryptocurrency Donations for Hurricane Relief

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Binance Charity, the philanthropic wing of major cryptocurrency exchange Binance, has begun a campaign to help support victims of Hurricane Dorian. On Sept. 5, Binance Charity started accepting cryptocurrency donations for a campaign that will help provide food and aid for hurricane victims through local organizations in affected areas. On the campaign website, Binance states that donations in Bitcoin (BTC), Binance Coin (BNB) and XRP will be distributed to the Hurricane Relief Project. At press time, the campaign has received 14 donations for a total of 0.558 BTC ($5,852.90). None…

Early Tester Finds Both Binance Futures Platforms ‘Currently Unusable’

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Bitcoin futures offerings from cryptocurrency exchange Binance have come in for criticism as a pre-release tester identifies major flaws. Rocky start for Binance PR move In a series of tweets on Sept. 6, the account known as doublejump said both the options currently under consideration by Binance lacked basic features, which are essential for ease of use. As Cointelegraph reported, Binance has released two separate versions of its futures trading platform for testing by users, and plans to reward those who test and correctly vote for the winner.  Platform A…

Crypto Giant Binance Launches Token Airdrop Following JEX Acquisition

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Major cryptocurrency exchange Binance plans to launch a token airdrop as part of the company’s acquisition of JEX, a crypto-asset trading platform. In a Sept. 5 announcement, Binance again revealed the acquisition of JEX, which will now operate under the name Binance JEX as an independent team within the Binance ecosystem. Following the acquisition, Binance is going to convert ERC-20 JEX tokens into native Binance Chain-based BNB (BEP2) ones. Distribution of 200 million tokens Binance will then distribute all 200 million unlocked JEX team tokens to all BNB holders on…

Binance Joins Forces With Paxos to Launch USD-Backed Stablecoin ‘BUSD’

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Binance, the biggest crypto exchange by volume, and digital asset trust company Paxos announced its partnership to launch a USD-backed stablecoin, which has received approval from the New York State Department of Financial Services (NYDFS) Binance USD available later this month In a press release shared with Cointelegraph on Sept. 5, Paxos co-founder and CEO Asia Rich Teo shared that the NYDFS’s approval of the stablecoin Binance USD (BUSD) is a vital step towards long term stability in global crypto markets. He continued by saying: “We are proud that our…

Binance Launches Dollar-Backed Crypto Stablecoin With NYDFS Blessing

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Crypto exchange Binance is launching a dollar-backed stablecoin in the U.S. Moreover, the new Binance USD (BUSD) has received the blessing of the New York Department of Financial Services (NYDFS). The exchange announced Thursday that NYDFS had approved the new offering, which Binance is launching in partnership with the Paxos Trust Company. The Binance stablecoin will be backed by U.S. dollars on a 1:1 ratio, according to a press release. The offering joins the Paxos Standard and the Gemini Dollar as an NYDFS-approved stablecoin. At launch, verified Paxos customers will be…

Binance Acquires Crypto Exchange JEX to Boost Derivatives Offerings

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Binance has announced the acquisition of crypto exchange JEX in a bid to boost its crypto derivatives offerings for pro traders. Seychelles-registered JEX offers spot and derivatives (including options and futures) trading in cryptocurrencies such as bitcoin and ether. Going forward under Binance management, the derivatives exchange will be known as Binance JEX. JEX offers its own token, also called JEX, which will continue to be guided by its existing foundation, Binance said. Binance plans to first distribute the tokens to users through “marketing activities and community incentives” before ultimately clawing back…

Binance Acquires Seychelles-Based Crypto-Asset Trading Platform JEX

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Binance, the world’s largest exchange by trading volume, has acquired JEX, a crypto-asset trading platform that offers spot and derivatives trading services.  The exchange announced the acquisition on Sept. 2, saying, “JEX will join the Binance ecosystem as Binance JEX and focus on further building the crypto-asset derivatives market.” According to the announcement, Binance will introduce more utility to the JEX token and further provide Binance users with professional services including futures contracts, options and other derivative products. Binance shows growing interest in the cryptocurrency derivatives market Binance’s acquisition of…

Binance Launches 2 Futures Platforms for Public Testing

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Binance has launched two Binance Futures Testnet Platforms, inviting users to participate in a 10,000 Binance Coin (BNB) futures trading competition. Two promotions during testing The major crypto exchange has launched two futures trading platforms named Futures A and Futures B in testing mode, allowing Binance customers to participate in a simulated trading competition, Binance announced on its website on Sept. 2. According to the announcement, Binance will grant trading competition winners a total of 10,000 BNB, worth around $216,000 at press time. Within the competition, Binance will provide all…

Binance Launches Two Crypto Futures Platforms for User Testing

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Cryptocurrency exchange Binance has launched not one, but two test platforms for its planned crypto futures products. Dubbed Futures A and Futures B, the new testnets are now open for users to play with using dummy assets, with new competitions to encourage traders to get involved. On Monday, Binance announced on its website that users will be able to vote for their favorite futures testnet, with the winning version to become the official platform. As for the competitions, Binance said it will award prizes totaling 10,000 Binance coin (BNB) – worth…