Binance Announced Its Infrastructure Platform for Local Exchanges

Binance has announced a platform for trading digital assets, which can be rebranded by smaller exchanges for their local markets, Coindesk writes.

A platform called Binance Cloud will offer local exchanges a spot market and futures trading, as well as API integration with local banks and fiat/cryptocurrency P2P exchange services.

The exchange states that using Binance Cloud will save potential exchange operators from problems related to security and scalability, as well as give them more time and resources to obtain, for example, proper permissions from regulators.

Binance Cloud offers the engine, security and liquidity of the Binance.com main exchange. Although the exchange may have its own brand and local fiat currency, the backend will be Binance itself.

“The Binance Cloud service is an all-in-one solution, featuring an easy-to-use dashboard that allows customers to manage funds, trading pairs and coin listings, as well as multilingual support, depth-sharing with the Binance.com global exchange, and more opportunities to collaborate with the ecosystem,” the company said.

Soon, Binance plans to add services for staking and OTC operations, as well as the ability to launch tokens through its IEO platform.

Thus, now Binance will compete with AlphaPoint, which was founded in 2013 and today is one of the largest suppliers of infrastructure for cryptocurrency exchanges. Coindesk claims that AlphaPoint provides its solutions to several of the largest crypto exchanges in the world, although it does not name specific customers.

Author: Marko Vidrih

Featured image credit: Coindesk