Binance Bullish With Launch Of New Exchanges

The CEO of Binance, Changpeng Zhao says that the cryptocurrency market has a bright outlook despite losing more than 80 percent of its value over the past year.

CZ spoke to Bloomberg saying, “2018 has been a tough year in terms of the pricing for cryptocurrency and I think we see a lot of projects not making it this year, so it’s a correction year.”

Even though there has been a significant drop in price over this past year for the majority of cryptocurrencies, CZ says that the figureheads in the crypto space are still optimistic regarding the future. This is primarily down the hundreds of developments currently on-going in the space. CZ stated, “the industry is going to grow by the builders. The guys who actually build applications. Long term, industry is sustained by real applications, real use cases of cryptocurrency, which a lot of people are building. So that’s happening regardless of where the price moves.”

The cryptocurrency exchange is looking to release more than ten new fiat-to-crypto exchanges next year with around three of them being set to launch over the next few months. The firm is also looking to roll out their plans for their first decentralised exchange (DEX) in early 2019.

As reported by the Daily Hodl, the CEO of Binance also said that he welcomes regulatory involvement as they execute their roadmap and make their platforms safe and secure. Regulatory bodies like the United States Securities and Exchange Commission have been moving throughout the year, looking into the blockchain technology and cryptocurrencies like Bitcoin. But that’s not all as they have also been giving out some fines as they attempt to find the right time and place which allows innovators to innovate and regulators to protect consumers against fraudsters, manipulators, scammers.

“We want clarity, but we also want good, sensible regulations. We want regulations that promote innovation and not things that totally hamper innovation. There’s still too much uncertainty in many countries in the world regarding regulations around the cryptocurrency industry.” Said CZ.

Even though CZ is aware that the current market downturn has taken a nasty chunk out of his own portfolio, comprised of digital assets once valued at around $2 billion, he has said that the crash in the markets hasn’t impacted his own businesses expansion plan.

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