Home News Exchange Binance May Use Ripple-Powered XRapid in the Future

Binance May Use Ripple-Powered XRapid in the Future

February 07, 2019 14:24
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Cryptocurrency exchange Binance founder, Changpeng Zhao popularly known as CZ made his debut on live video streaming app, Periscope to drop some big news involving Ripple.

In a live video, CZ started the discussion by talking about the plans for Binance Chain Beta testing to the public within the next few weeks. The Binance DEX is also set to launch in the coming weeks, with access currently only available to closer partners to test and work with, reported news portal Chepichap.

The Binance CEO, while fielding questions from viewers said that there may be utilization of XRapid (one of Ripple products) in the future. Talking on that he said, “there is nothing going on right now but in the future we definitely want to add them as a partner.”

As earlier reported by Crypto-News India, Binance has been talking a lot about its decentralized exchange also known as DEX. Recently, it released the second demonstration video of its decentralized exchange Binance DEX. The first demo was released back in August when exchange was in a very rough pre-alpha stage. Now this second demo is showing us what this upcoming exchange will look like when it finally goes live.

Speaking about it at the time of the demo, the company said, ““User funds on the DEX will be secured with decentralized wallet applications like Trust Wallet, which has a server-free infrastructure that stores private keys only on the user’s device, meaning only users have access to their funds.”

Binance DEX is built on Binance Chain itself with the aim of providing low-latency, high throughput trading in a secure and reliable environment. The company also said that its BNB token, which is currently an ERC-20 token based on Ethereum blockchain, will soon be migrated to Binance Chain itself.

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