DeFi services land on Binance Cloud

Through a press release, one of the world’s most famous exchanges, Binance, announced that several products related to decentralized finance (DeFi) and beyond will soon be available on the Binance Cloud platform.

The products in question will be the Binance Perpetual Futures and DeFi Enterprise Solutions, which cover the development of projects on both the Binance Smart Chain and Ethereum, offering customers the entire backbone of a platform like Binance.

Binance Cloud is a platform launched in February that provides the technological infrastructure for various projects so as to optimize the timing of the launch of new DeFi products and platforms, while also benefiting from the security of an exchange such as Binance.

DeFi projects on Binance Cloud

The aim is to enable anyone to build and implement their own project in this area, commented Binance’s founder and CEO, Changpeng Zhao:

“The goal with Binance Cloud is to provide the infrastructure to support any company that wants to build a digital asset exchange. Binance Cloud is a one-stop solution that delivers the Binance speed, quality and experience to more users around the world. The Cloud team has been developing innovative new features, and will continue to work towards making Binance products available to more partners and create more tailored, localized experiences for users through Binance Cloud”.

Surely having a structure of this calibre in place is also synonymous with security, since Binance is so big that it also has greater power in the event of attacks or in recovering funds, as in the recent case of the Wine Swap scam, in which over 300 thousand dollars were about to be lost.

However, it is also true that relying on a centralized platform to create something vaguely decentralized, is somewhat contradictory, but like with everything else, there are the advantages given by security and the disadvantages given by centralization.


Read Also:   CZ from Binance ready to support ETH 2.0

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