- Binance USD ($BUSD) stable coin approved by NYDFS, Binance Charity Foundation launched the Hurricane Relief program
- Binance launched JEX airdrop plan for BNB holders and also introduced V Label verification project vite
Binance launchpad Introducing the Band Protocol (BAND) Token Sale
Binance, the largest Digital Currency Exchange by volume, is in headlines his week Here are some of the amazing news that Binance has given us this week:
Binance has entered into a massive merger with Paxos and together they have launched a stablecoin which will have the approval of the New York Department of Financial Services (NYDFS). Approval by the New York Department of Financial Services (NYDFS) means great usage and acceptance of Cryptocurrencies.
Hurricane Relief program
Hurricane Dorian that has ravaged the Bahamas Islands for days now has caused massive destruction of life and property. Thousands of people are in the need of help and Binance, the Largest Digital Currency exchange by volume, has come to their rescue by its fundraiser charity division, The Binance Charity Foundation, the exchange has appealed to all the companies involved in the blockchain activities come and support the nonprofit organizations working for the relief of the victims. Initiating such an initiative always has a positive effect on the image of a company. People get acquainted with the good works of the company and also respect for the company. Binance is also making the public aware of its fundraiser, the Binance charity through social media and is asking people to donate in digital currencies.
Band Protocol IEO
Another announcement by Binance is technical. It has announced the launch of a new project on binance launchpad called “band protocol”. Band Protocol store decentralized data from public blockchain such as Cosmos (ATOM), Ethereum (ETH), EOS and others. They will store this data on the protocol. On the “band protocol” the dApps company can come and obtain data that are trustworthy. This will enable the companies to avoid the tiresome process to go through centralized data. Here is what Changpeng Zhao has to say on the announcement, “Within Binance Launchpad, we continue to listen to the feedback of our community and strive to support only the high-quality projects. Using a community-driven approach, the Band Protocol solves an important problem in the industry: trust in third-party data sources, which is necessary for decentralized applications working on the blockchain and further mass adoption of crypto technologies.”
V Label verification
Binance has announced the launch of V Label verification. The V Label badge will be received by projects that are shown on the Binance info page. The project’s profile will be verified by the project team only and then will be shown on the page. Verification will be for the convenience of the users. All the projects will not be verified and the projects which do not have a V label badge will be maintained by the community. This will help the users to check the authenticity of the various projects available on the Binance Info page.
JEX, a Crypto asset trading platform offering spot and derivatives trading services has been acquired by Binance, the largest digital currency exchange by volume. The trading platform will be renamed Binanace JEX. After Binance takes over the crypto asset trading platform, it will now be a part of the large family of Binance working independently within it. Binance JEX token will have all the benefits of Binance coin (BNB) token like fee discounts and other discounts.
This week has been a huge success for Binance. It has grown itself on all fields showing its versatility and now this will impact the crypto community as a whole. The time has come that digital currencies will be widely accepted and used all over the world.