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Binance News

Litecoin/BNB Coin Pair Are Is Now Available On The Binance DEX

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Litecoin/BNB Coin

Litecoin/BNB coin pair is now available on the Binance DEX including the latest asset called LTC-F07 and more than 18,500 tokens have been released for trading as we are reading further in the litecoin news today.

In the latest listing proposal, the binance CEO Changpeng Zhao explained the potential of the Litecoin/BNB Coin pair trading on the Binance DEX:

“LTC is decentralized money, free from censorship and open to all. The Litecoin blockchain is the largest global scrypt based network, operating with 100% uptime since 2011 securing billions of dollars of value”

Chanpeng Zhao also noted that the contribution that Litecoin has to offer to the future blockchain progress, especially the Lightning Network and Atomic Swaps. As a new asset, the LTC-F07 is mintable and the total supply will increase with market demand so all of the tokens issued will be backed 1:1 by a native LTC in which the accuracy of the connection will be monitored by an initial verified Litecoin address. The Binance DEX is a side-project of Binance which is currently the largest crypto exchange in the world.

The DEX operates on the native Binance Chain and supports non-custodial peer-to-peer trading of more than 130 assets. Some of the major cryptocurrencies include Bitcoin Cash and Bitcoin as well as other numerous stablecoins which have their ‘mirrors’ on the Binance Chain with actual tokens of the native Binance BEP2 standard. As we reported previously in our Binance news, the decentralized exchange (DEX) is apparently blocking access to users based in 29 countries. The Binance DEX informs potential users of the restriction through a message which appears when someone is accessing the platform from any of the specified regions.

Aside from this, the pop-up which Binance DEX has designed warns about the trading and accessing the wallet interface through the website – and how it will be blocked for users with IP addresses from the aforementioned countries. A lot of people in the crypto community are bashing Binance and have characterized the finding as an indication that the DEX is in fact not actually decentralized. One Twitter user who is well known among crypto enthusiasts named Whale Panda commented:

“Reminder that it was never a DEX so stop calling it a DEX. It’s just a word they used to pump $BNB, it was never meant to be decentralized.”

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Binance News

Binance Announces Support For EURO, KZT And Ruble Fiat Deposits

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Binance announces support
Binance announces support for three additional fiat currencies thanks to the new partnership with Advcash as we are reading further in the latest binance news.Advacsh, or Advanced cash, is a payment platform that combines crypto, fiat, and prepaid card features and has e-wallets in multiple currencies that allow for easy withdrawals and deposits no matter of their nationality. One of the world’s leading crypto exchanges Binance announces support yesterday November 8th that it has partnered with Advcash to offer withdrawals and deposits for additional fiat currencies.Thanks to the new partnership,  Binance will also support EUR, RUB and KZT and in addition to UAH which was already added to the exchange’s fiat support basket earlier. This will allow the users to own the above currencies to deposit in the exchange’s wallet via bank cards, Advcash’s own wallet, and credit cards. Once the funds find their way to the Binance wallet, the users will be able to purchase cryptocurrencies straight away with a single click.According to binance’s announcements, the new decision will bring a number of benefits including the zero deposit fees for any of the four fiat currencies if the users decide to deposit them via Advash Wallet. Some of the other benefits include increased speed, and easy access as well as the ability to purchase ETH, BTC, and XRP directly. As mentioned, the users will be able to purchase cryptocurrencies with the newly supported fiat money with only a click. This is only possible because of Binance’s One-click buy and sell feature which will let the users buy or sell coins more conveniently than before.According to the latest exchange, there is no need to review the complex charts and examine order types and all of the users have to do is take a look at the coins’ real-time prices and execute the trades directly. As mentioned, the main functions support only the purchase or sale of the top three largest cryptocurrencies including XRP, ETH, and BTC.Also in the previous news, we found out that Binance may open a China office soon, a report claims. Even though the exchange has current offices in Shanghai, a move to Beijing will foster the growth and prove that Binance may be again opened to the regulatory climate in its domestic country.
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Binance News

Binance DEX Will Be Available On The Trezor Hardware Wallet Soon

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Binance DEX will
Binance DEX will now be accessible through the Trezor hardware wallet thus opening a door for trading more crypto assets and will also expand the presence of Binance as a hub for all crypto-related services as we are reading further in the latest binance news.Trezor offered both the agile access to a lot of crypto assets and a hub to control the hardware wallet by combining a secure approach to cold storage that keeps the private keys offline while letting users quickly access their stored coins. Binance DEX will become even more popular now since it is among the fastest-growing decentralized exchanges and it is expected to also add the influence of the brand.The DEX is a global and permissionless platform and relies on the Binance Chain for its operations. Binance DEX is also the producer of its own native stabelcoins that is based on the British Pound and the US dollar. There is already a registered volume of more than $1.24 million becoming one of the largest decentralized marketplaces and with the latest Trezor partnership, the assets remain fully controlled by the user until the final transfer of the funds.The addition of the Binance DEX will also be a major boost to BNB which is the native asset of the exchange. The coin remained one of the bigger winners since is showed massive stability during the market setbacks on the market. BNB is now trading at $20.23 which is an increase of 10 percent since the lows in December in 2018. Binance DEX allows connections via the site for three other hardware wallets including CoolWallet, Ledger and SafePAl wallet. Only Trezor was left to be added to the group.Based on the tutorial, the users of Trezor will have to go to the Binance.org website and use the specially designed web wallet as an intermediary. This could block some of the users from 29 countries of using the DEX platform. However, both of the companies are working with a strong and fast tempo and they could even find a solution to this problem.Binance DEX also noted that NEXO tokens are now trading on Binance’s decentralized exchange. This practically means that the NEXO token holders can now enjoy all of the benefits which have turned Binance into an industry favorite cryptocurrency exchange. These include liquidity, cutting-edge trading solutions, dedicated focus on security as well as decentralization.
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Binance Coin News

Binance Chain And BNB Will Be Traceable Through CipherTrace

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binance chain and bnb
The American blockchain security firm CipherTrace is making big waves in the crypto landscape, after a recent announcement showing that it will provide Anti Money Laundering (AML) controls for Binance Chain and BNB, its the native asset.As you probably know from the blockchain news before, Binance Chain is the public blockchain of the major cryptocurrency exchange Binance. It is also the underlying blockchain for the decentralized exchange of Binance named Binance DEX. As it stands, this blockchain is expected to improve the AML procedures through CipherTrace.The news about Binance Chain and BNB came from an announcement by Binance on November 5, where CipherTrace is said to be providing Binance Chain with institutional-grade AML controls to increase the adoption of its blockchain.Within this initiative, CipherTrace will work to enable global developers, investors and regulators to access the Binance Chain blockchain for discovering data such as high-risk addresses. The company will also help the entities to set various controls to protect decentralized applications (dApps), exchanges or other crypto-based applications, as Binance wrote in a blog post.Samuel Lim who is the chief compliance officer at Binance, is also in the Binance news today for his claims oriented towards the initiative and how it won't affect the security of the users and their data protection. Speaking to the media, Lim said that customer information will not be shared with third parties as a result of the new AML practice. He also added:
“Users can rest assured that Binance will uphold its usual high standards of user security and data protection.”
Lim also denied to specify to Cointelegraph whether this move will affect the listing of privacy coins such as Monero (XMR) in the future. He said that Binance does not comment on specific tokens and maintains the highest integrity in its listing due diligence process.Binance Chain and BNB are making this major move now, as Lim described it. He said that the move is a “major win for the community-driven Binance Chain,” and that Binance users can soon expect more digital token support surrounding the ecosystem.In the news before, we saw that CipherTrace's support for Binance Chain and BNB follows the expansion of CipherTrace services to up to 700 cryptocurrencies including ETH, USDT, BCH and LTC which was announced recently. 
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Binance News

Binance May Open A Chinese Office Following Endorsements From Xi

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Binance announces support
Binance launched in 2017 as a cryptocurrency exchange which was headquartered in China - the home of many leading Bitcoin startups including Bitmain. However, the country later announced that it had intentions to ban cryptocurrency trading, which made Binance leave the country and relocate to the European island of Malta. Now, the Chinese president seems to have (re)gained his confidence in crypto and blockchain which is why Binance may open a Chinese office soon.The latest Binance news show that China's great internet firewall has been blocking social media and news sites of Western influence. Plus, as a result of that Bitcoin to Chinese yuan trading fell by 99% and right now the exchange is looking to expand its presence in China (once again) by opening an office in the capital of Beijing.Binance may open a China office soon, a report claims. Even though the exchange has current offices in Shanghai, a move to Beijing will foster the growth and prove that Binance may be again open to the regulatory climate in its domestic country.The report coming from Coindesk did have some other ideas, too. It suggested that the leading exchange may be working with the Chinese government on its Venus blockchain project. This is a major possibility and a reason why Binance may open an office in Beijing.What's also interesting is the fact that Binance made an investment in Mars Finance, a Chinese cryptocurrency media and data firm which is purportedly based in Beijing according to Crunchbase. The amount of this investment is still not clear, but rumors show that it was in the $200 million ballpark. The CEO of Binance, Changpeng Zhao, said the following on the importance of this investment.
“We have large respect for data, news and research firms which support the positive growth of the blockchain industry. We will continue to pursue strategic investment opportunities in our mission to bring crypto further mainstream, increase adoption and accessibility, and help the industry grow sustainably.”
Meanwhile, the president of China Xi said that the country is prepared to embrace blockchain and crypto, but the country must remain cautious. “Blockchain’s future is here but we must remain rational,” the media outlet People's Daily Online in China reported.
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