Binance, the largest crypto exchange has announced a new division of research in order to bring more transparency to the crypto industry. This new division will support Binance’s plan to bring crypto exchanges and the other related businesses across the five different continents of the world.
Announcement and Global Exposure
On November 8, there was an announcement released that stated that Binance is creating its own research division with an aim of functioning ‘institutional grade research reports.
The research group of Binance is already in action, released two reports, one on Loom Network – Project which is examining solutions for the scalability of Ethereum. The second one is regarding the scalable decentralizing cryptocurrency called Gochain. There is another report which is under construction, focusing on the Pundi hardware and software platform; which is helping in facilitating cryptocurrency payments.
The research division is one of the phases of Binance in the crypto exchange, plans to spread their business operation all over the world. In September, Changpeng Zhao, CEO at Binance, said that the firm would be expanding operations globally by launching five to ten exchanges in different continents of the world.
The crypto exchange Binance, in August, collaborated with the Liechtenstein Cryptoassets Exchange in order to launch a fiat-to-fiat crypto exchange in the country. About a month later, Binance officially stated that they would be moving to South Africa, launching Binance Uganda, which helps users to buy two major cryptocurrencies like BTC and Ethereum. This new set up made around 40,000 sign-ups in the first week after the launch.
In October, Binance Labs invested their millions of bucks in Contentos – decentralized digital content ecosystem, to develop a decentralized ecosystem that supports monetization and transparency of content without any removal of content.
Binance, which was founded in 2014, is now the leading virtual currency exchange when it comes to trading volume per day. As per CoinMarketCap, Binance, at present, is around $796 million.
It is predicted that Binance is ready to kick-start their efforts in improving the issues and lack of transparency in the cryptocurrency as well as in the crypto related projects.