What is Binance Open Platform?


We should no longer be surprised when Binance launches new products. Since the beginning of the Coronavirus crisis, the exchange founded by Changpeng Zhao has not stopped creating new products and services for its users. In what has undoubtedly been the most proactive strategy ever seen in the crypto market. That’s why today we explain what Binance Open Platform is.

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Binance’s strategy
It seems there’s nothing Binance can’t do, or sector of the crypto world he can’t hack Bitcoin Trader into. Whether it’s creating his own Blockchain project accelerator in Shanghai. Launching a program to support new exchanges around the world. Or even donating millions of dollars to fight the Coronavirus. The world’s first exchange is constantly making headlines around the world.

Thus, it has managed to constitute a strategy that seems to have at least two aspects. The first aims at accelerating the pace of new releases, so as to overtake its main competitors such as Huobi. And the second, seeking to create not only a series of services to offer its users in the style of Microsoft’s Office, but to create an infrastructure for the crypto market.
The fact is that many of Binance’s launches are not so much aimed at improving the already impressive capabilities of its platform. But to promote the massification of cryptoactives, in a strategy that could be compared to the one followed by Google with Android. Promoting the use of its Operating System in order to massify smartphones, and thus get more people to google their searches.

Binance Access a big step for Exchanges

Open Platform Binance
This seems to be exactly the direction that Binance is taking with its new initiative, Binance Open Platform. It tries, in the words of the exchange itself, „to empower entrepreneurs, businesses and communities with tools and services that help them build sustainable growth.

Thus, the Binance Open Platform would be an attempt by the exchange to share its technology and capabilities with other Blockchain projects in the crypto market. Collaborating with the creation of the necessary infrastructure for these companies and organizations to function properly.

This initiative includes four of the exchange’s products: Binance Access, Binance Broker Program, Binance Cloud, and Binance Widget. These products will be available to companies and organizations around the world that share the vision of the exchange for the construction of the crypto world. Gaining access, thanks to the partnership with Binance, to the technology, applications, strategic support and community offered by Changpeng Zhao’s company.

In this way, services such as Trust Wallet, CoinMarketCap, currencies such as BNB and BUSD, or applications such as Binance’s integrable widgets and the fiat-crypt-currency exchange market, can be leveraged by smaller companies that do not have the resources to create comparable products on their own. This platform creates a much richer and more robust ecosystem for crypto users.