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Binance Cloud now includes DeFi enterprise solutions

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Binance’s all-in-one enterprise solution for launching digital asset exchanges, Binance Cloud is expanding services to include perpetual futures, DeFi enterprise solutions, and third-party payment solutions, according to a release shared with AMBCrypto.

With this move, Binance partners will be able to build DeFi products on Binance Smart Chain [BSC] and Ethereum. The inclusion of third-party payment solutions will enable networking and integrating third-party payment channels. Binance Cloud, which was launched in February 2019 as a part of Binance’s Open Platform initiative, helping new projects go live.

According to Binance:

“Platforms built on Binance Cloud can continue to provide their users with a range of core products, including cryptocurrency trading (spot, derivatives), local currency on-and-off ramps, and desktop browser and mobile app support, leveraging Binance’s industry-leading technology, security and liquidity.”

Binance has been taking a special interest in decentralized finance [DeFi] projects as the community’s interest noted a surge earlier this year. Recently, the exchange announced listing Keep3rV1 (KP3R) token in the Innovation Zone. Innovation Zone is another project by Binance that allowed users to trade newer token offerings from their Binance account, while at the same time protecting less suited users from being exposed to the “risk” that comes with trading them.

Project Keep3rV1 is created by yearn.finance creator Andre Cronje. After YFI’s shot to success, Cronje had met with obstacles with his other DeFi projects, however, as Binance showed an interest in Keep3rV1, it also warned the user of dealing with a risky project. The exchange has been actively supporting new solutions from DeFi as it funded six projects building on BSC.

As Binance spreads its reach in the Defi world, DeFi market has been gaining strength as total value locked remained above $11 billion.

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Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

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