Binance is a popular and second-largest crypto exchange as per the daily trading volume data recently has made a startegic invvestment in crypto derivatives exchange called FTX. As per the announcement made on December 20, 2019, the leading exchange has made both possibilities of equit investment in FTX and is also looking for a long term position in its native asset called FTX Token (FTT).
There is a positivity in this upcoming stratgeic [artnership, the exchange will keep its aim to attain sustainable growth in FTX’s ecosystem. Though the exchange is not opened up about its sum of its investment, the founder of FTX , Sam Bankman Fried along with its head Alameda Research, a quantitaive trading firm and crypto liquiidty provider told Bloomberg that this whole investment was of tens of millions.
They also claimed that, valuation for FTX is in the hundreds of millions of dollars. He also mentioned that the investment in Binance and startegic advisory role is going to help FTX to accelearte its growth at the same time it maintains the independennce of its operations.
In 2019, the derivates exchange was intrdouced and serves professional derivative trading products that includes quarterly and continuous contracts on numerous crypto assets along with leverage tokens and over-the-counter (OTC) services. Since the day of its inception, FTX has achieved almost half a billion dollars in the terms of a daily trading volume as per the Binance source. For more information call on Binance support phone number which is functional always for the best guidance. The team loves to support you in a every situation.
FTX to help Binance exchange to create existing liquidity
Being a startgeic partner, FTX is going to serve a helping hand to Binance to create its existing liquidity and institutional product offerings that include its flagship exchange and OTC trading desk.
In the recent statement, the CEO of Binance, Changpeng Zhao talked about the stunning growth of FTX and adds that being from the professional traders backgroound, the exchange can relate it to the FTX team and has full confidence in their potential in becoming a major player in the crypto derivatives markets. Also, the CFO of Binance, Wi Zhou mentioned that the Binance team is going to encourage positive competition along with the partnership in order to help creating new products and services for the industry.
Binance recently launched Bitcoin futures product which is doing exceptionally best and also has a hit $700 million record in October, where other platforms in the crypto derivatives market saw monotonous acitivitty. Also, the exchange launched its services based in the United States, Binance US and this month has been doing testing an IOS app for Binance US users. In December month, the exchange announced its fiat gateway for Latin America, starting from accessing the direct purchase of cryptocurrencies using Argentine pesos and Brazilian reals. For availing more information about the exchange, users can always have conversation with the team who is ready to assist you. Call on Binance customer care number which is functional always for guidance.