Changpeng Zhao, Founder and Chief Executive Officer at Binance, said: “We are humbled to reach this incredible milestone. Our focus has always been and will continue to be providing our users with the most secure, fast, and efficient way to exchange digital assets.”
Cryptocurrency exchange Binance has become the largest exchange in the world since Tuesday, according to data from Coinmarketcap.com, while claiming it achieved the top spot in the world on Dec 17th, with over US$4 billion equivalent of cryptocurrencies traded in 24 hours. The company recently stated they had now reached 2.9 million users on their platform since their launch in July of 2017.
Launched five months ago, Binance attributes its amazing growth to a number of strategic agreements with other firms and to their loyal user base, having developed a ‘Binance Angel Program’, with Angels located in over 30 countries around the world who are a passionate group dedicated to help ‘Binancians’ and foster awareness of Binance on a global scale.
After a deal with cryptocurrency exchange Monaco to extend support of the Binance-issued token BNB to all its platforms and to introduce MCO/BNB trading, the firm partnered with Asia’s high-end live video platform Uplive to bring its 20 million users to the Binance platform.
GIFTO, a virtual gifting protocol being launched by Uplive, sold $3 million in their tokens exclusively to Binance users through Binance Launchpad in a matter of seconds, helping the company become one of the fastest and most successful token sales ever in Asia. This was followed by Bread, a decentralized banking application, that similarly sold over $3.5 million in token in a matter of seconds exclusively to Binance users.
Binance provides cryptocurrency trading by offering virtually instant exchanging between 96 different digital assets and Bitcoin, Ethereum, BNB (the native Binance token), and USDT. The company’s matching engine is capable of sustaining 1.4 million orders per second, as well as 20 million simultaneous users on the platform.