Connect with us

Binance

Binance partners with Ukraine’s Digital Transformation Ministry to implement cryptocurrencies

Published

on

Binance and the Ministry of Digital Transformation of Ukraine, on 6th November, announced a signed memorandum of understanding (MoU) to jointly cooperate on forming a position in establishing the potential legal status of virtual assets and currencies in the country.

According to the official post shared by Binance,

“Binance will help develop transparent and effective mechanisms for the transfer of rights to any virtual assets or currencies using blockchain technology as well as beneficial conditions for investments and business in Ukraine.”

The report also states that the cooperation agreement involves setting up a working group to develop a strategy for the implementation of blockchain technology and the creation of the new virtual assets and virtual currencies market in Ukraine. In this regard, Mykhailo Fedorov, the Vice Prime Minister – Minister of Digital Transformation of Ukraine said,

“At last, Ukraine is finally in a situation where the executive, legislative authorities and market have come to an understanding of the regulation of the Ukrainian cryptocurrency market.”

By the end of this year, the Ministry of Digital Transformation, together with Members of Parliament and representatives of commercial companies, plan to finish work on the relevant bills and present them to Ukraine’s parliament. Fedorov also highlighted that the Ministry intends to create a comfortable, competitive environment for the crypto industry in Ukraine. Binance CEO Changpeng Zhao also mentioned,

“The legalization of cryptocurrencies and corresponding adoption of progressive legislation in this sphere can become one of the key drivers in stimulating positive growth in the Ukrainian economy as well as attract additional investments to the country.”

Source: ambcrypto

Click to comment

Binance

Binance accelerates fiat support programme; unveils Turkish lira Fiat Gateway

Published

on

Malta-based crypto-exchange Binance was in the news after it upped its maximum leverage and margin on BTC/USDT contracts to up to 125x, from the previous 20x leverage, just one month after the successful launch of Binance Futures. While addressing any increase in leverage on Binance’s Futures trading platform in the future, Binance CEO CZ compared the industry to traditional markets and said,

“When crypto gets big enough and the liquidity is high enough those things are definitely possible, but there are no plans right now.”

While there are no plans to increase the exchange’s leverage in the near future, Binance is more focused on adding more fiat supports to its platform. In a recent interview, the company’s CEO said,

“In the past months or so we added five different fiat pairs, like Euro, Nigeria’s NGN, Russian Rubles, KZT, UAH Ukraine, so we are going to add more fiat from all around the world.”

In yet another recent development, Binance has also announced a partnership with Papara to offer deposits and withdrawals of Turkish lira [TRY]. This fiat gateway will help users deposit TRY to their Binance accounts through local debit and credit cards, as well as wire transfers supported by 16 different Turkish banks. Additionally, users on its platform will be able to purchase BNB, BTC, ETH, and XRP, directly using the TRY in their Binance account. The Malta-based exchange’s stablecoin, BUSD, will be available at a later date.

The official blog announcing the development also mentioned that each purchased asset will reach the user’s Binance account in seconds. It further read,

“After TRY is deposited into a user’s Binance wallet, users will also be able to buy crypto with their TRY balance directly on the Buy and Sell Crypto page using our one-click buy/sell service. Please note that the sell function will be available at a later date.”

Source: ambcrypto

Continue Reading

Binance

Binance raises leverage to 5x on margin trading platform

Published

on

Malta-based cryptocurrency exchange Binance had rolled out its margin trading platform back in July, in order to provide leveraged trading amenities to its users. The platform started off by supporting only six cryptocurrencies, with a leverage of only 3x, as opposed to the 20x expected previously. However, the latest announcement from the Changpeng Zhao-led cryptocurrency exchange seems to be paving the way for the platform to reach its goal of 20x.

As per the announcement, the platform has elevated its maximum leverage of Binance margin trading to 5x, along with a leverage adjustment function. Binance took to Twitter to make the announcement, sharing the development with the community.

The official blog post by the cryptocurrency exchange stated that users would be able to avail an increase in the maximum leverage up to 5x. Since the 3x was the previous maximum leverage on the Binance margin trading platform, an adjustment function has been enabled so that users could set their desired leverage between 3x and 5x. However, this feature is currently limited to web interface users only.

Source – Binance

The margin trading platform on Binance has recorded significant growth lately after the platform added several other currencies, along with many existing ones. The feature supports BTC, ETH, BNB, TRX, USDT, ADA, ETC, BCHABC, and XLM, along with many other currencies. More recently, the platform enabled margin trading for sub-accounts as well.

Despite the growth, however, Binance is still behind BitMEX as it offers up to 100x leverage on a few of its products. BitMEX on the other hand, was recently in the news following the leak of 400,000 customer email addresses. Apart from BitMEX, several other platforms including ByBit and StormGain also offer up to 100x leverage.

Source: ambcrypto

Continue Reading

Binance

Binance announces mainnet Heisenberg hard fork upgrade schedule

Published

on

Following the successful testnet Heisenberg upgrade, Binance Chain validators have now agreed on a scheduled hard fork upgrade at block height 51,467,800. According to the official blog post for the Binance Chain mainnet Heisenberg upgrade, it will be activated on 28 November at 5:00 AM [UTC], following which the validators, as well as all the full node runners, will be expected to switch their software version to v0.6.3 by 28 November. However, no action will be necessary for BNB token holders or Binance DEX users.

The blog read,

“If you use any exchanges which support BNB [such as Binance.com, BitMax or Gate.io], one of the wallets, or a hardware wallet [such as Ledger, Cool Wallet], you do not need to do anything unless your exchange or wallet service specifies otherwise. There are no changes to Binance DEX matching engine logic.”

After the upgrade is activated, logic changes will occur at the said block height, i.e. the blockchain will be able to handle a series of new business logic.

There are many updates lined up following the hard fork. According to the blog, there will be substantial performance improvements, especially for a larger number of addresses. There will also be Lot-Size enhancements, which means that the lot size will be calculated based on its price against BNB in the upcoming match engine of Binance DEX. There will also be change constraints in the listing of transactions. This essentially implies that both the owner of quote-assets, as well as, base-assets, can send listing transactions after the upgrade is activated.

The Malta-based cryptocurrency exchange had previously published a report which outlined the October updates. The report said that 11 community-submitted listing proposals had been approved of on their distributed exchange platform, Binance DEX, with 2 proposals still in the voting process.

Source: ambcrypto

Continue Reading
Open

Close