Binance to Support, Invest and Work Closely with Newer Exchanges which Innovate
Binance CZ, recently tweeted: “Smart and progressive banks are actively adopting #crypto; less progressive ones are being told to do so. From #Turkey to #India, where next?” He is thus sending a calling those who are working for a bank that wants to support #crypto exchanges.”
When talking about investments in India, CZ has to state that Binance is the only international crypto exchange to have invested in India. He reinstates that this is before the ruling about cryptocurrencies and after the ruling. He expects to see more investments to go to India.
More than a Billion people will be directly able to trade crypto if all goes well. There is no ban for cryptocurrency in India; however, the RBI has refused to support the banking activities for the crypto currency business.
Sydney Ifergan, the crypto expert tweeted: “Banks in India tend to obey the Reserve Bank of India. Probably, there should be Binance Banks in India. Lot of inter-jurisdictional things and confusing on board. Binance however has made a bold move.”
Some investigation in to how Wazirx is functioning will provide an insight in to what we can expect to probably happen in India. Indians are very conservative in their investment options and they do lot of due diligence checks before they invest their money. They look for trust in the trustless transaction technology. However, when the Indian market is tapped, it is going to be huge. Binance knows it is worth all the headaches exploring this market. Whatever the technology, trust is a big thing when it comes to money. The Indian market is based on the traditional trust ideal.
The top 3 Indian projects have been named:
“We decided to make an overview of the 3 most promising Indian projects at the moment. @MaticNetwork $MATIC; @MarlinProtocol $LIN; @WazirXIndia $WRX.”
CZ encourages investing in the cryptocurrency industry no matter in which part of the world one is. He further stated that they support, invest and work closely with newer exchanges which innovate.
Binance.US tweeted: “Binance Us offers New On-Ramp through $USDC Starting from Wednesday March 4, 2020 at 6:00pm PST / 9:00pm EST, users will be able to deposit $USDC onto #BinanceUS and convert to $BUSD at the rate of 1:1 with zero fees.”
The blog further states, moving between exchanges should be smooth and therefore they have made it easy to deposit USDC to further convert it to BUSD for free. The price is currently stable at $1.00.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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