Crypto exchange giant Binance just posted a very cryptic message to Twitter, stating:
“Today marks the birth of a new genesis block. Who’s ready?”
One week ago, Binance CEO Changpeng Zhao (CZ) announced on Twitter that the Binance Decentralized Exchange (DEX) will be launched “later in April”. While today is somewhat earlier than most expected, it would seem this new announcement could be a precursor to the event. Reports indicate the DEX is planned to be built upon Binance Chain, the companies own proprietary blockchain platform.
In addition to this, at the Paris Blockchain Week event yesterday, Binance CFO Wei Zhou said that the Binance Chain testnet is currently in operation and the company hopes to launch the full mainnet by month end. The DEX is intended to improve security by not storing all customer assets in a single location, making it far less susceptible to hacks and thefts.
Singapore Fiat-to-Crypto Platform
Zhou also spoke of the companies upcoming plans for a Singapore fiat-to-crypto platform at Paris Blockchain Week:
“Next week we are going to launch the Singapore simple buy/sell on-ramp”, he said in an interview with Coindesk. The new platform will make it possible for Singapore citizens to buy and sell Bitcoin (BTC) using Singaporean dollars (SGD). He added that additional cryptocurrencies will be added to the platform over time.
Today’s launch, whether it be the Binance Chain mainnet or the mainnet and DEX combined, will no doubt give a huge boost to Binance’s native token Binance Coin (BNB). BNB has been one of the best-performing assets this year, growing by 400% from $5,35 to a current high of $20.52. Following the announcement, BNB has shot up by almost 5 percent in the past hour. If this trajectory continues it will likely break it’s all-time high (ATH) of $22.63 at some point today.