Cryptocurrency exchange Binance has been in the spotlight for a great many developments. It’s not completely inaccurate to say that the exchange has the penchant for making right moves, irrespective of the market conditions. To find out more about Binance’s plans, (including coming to India), we reached out to Chief Growth Officer (CGO), Ted Lin for a conversation. Take a look below:
CNI: As we cover chiefly Indian news- we would like to ask some more questions on the Binance Delhi meetup that took place on November 24. Could you please tell us, if there were people from the exchange attending it, or was it an independent meetup involving people from the Binance Academy?
Ted Lin: We were very excited to host our first Delhi NCR meetup last week. The story behind us choosing Delhi was actually by popular demand from our users on social media. We had asked the community for suggestions and received an overwhelmingly positive response from our Indian users — our community in India continues to be warm and engaged. The meetup was organized by our local events and community manager, who will be hosting more events in various cities in India over the coming months.
CNI: In the light of the government restrictions, what are Binance’s growth plans in India? Apart from that, is the exchange planning to open up an office in India, anytime soon?
Lin: Technology adoption is always a continuous journey of education, utilization, and propagation. While government restrictions currently prevent many crypto use cases in India, in the long run, it is the public’s knowledge about distributed ledger and cryptocurrency that determines the take up of such a leading edge technology.
We do not have plans to open up an office in India anytime soon, but we already have marketing personnel based in India to engage, to learn, and to share knowledge about blockchain and crypto with local users. India is a very important to us, and we will continue our journey of education while keeping a close eye on the latest government regulations in this space.
CNI: In regards to the latest upgrade that took place sometime last week, could you tell us some more details on the same? What were the changes introduced on the platform?
Lin: It was a performance upgrade. In addition, we added a few useful features such as allowing API users to cancel orders directly through Rest API during a trading ban, instead of having to go through the web interface.
CNI: Could you tell us what are your plans for the BNB/crypto adoption? Do you expect BNB to be used as well as other cryptocurrencies such as bitcoin and ethereum, can it function independently of the Binance platform? Has any country, so far, adopted BNB and how has it done so?
Lin: Cryptocurrencies have been deemed by many as means of speculation. Yet the potential use for crypto is a lot wider than pure investment. Given Binance is the most popular crypto exchange, and the Binance ecosystem is created to advance the adoption of cryptocurrency, we take it upon ourselves demonstrate the power and convenience of crypto through actively growing BNB use cases. Right now through selected partners, one can already use BNB to pay for exchange fees, consume through BNB enabled credit cards, buy real estates, pay for flights and hotels, and take out loans by using BNB as collateral, to name just a few. BNB is one of the most widely held cryptocurrencies in the market and can function independently of the Binance platform. The adoptions are at the business level, as opposed to country level. We believe the commercial and consumer’s borderless adoption of BNB is a much better embodiment of what crypto’s potential could be.
Liked what you read? Join us on Telegram