Binance, Exchanges

Is Venus Owned by Binance?

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced its intention to launch a public blockchain platform called Venus. The new platform is being developed in partnership with Cred, a crypto lending and borrowing platform.

The announcement was made during the Binance Blockchain Week event in Singapore. According to the press release, Venus will be “a decentralized cross-chain lending and borrowing protocol” that will “empower billions of people with access to free financial services.”

“With the launch of Venus, we are excited to help power the development of a new decentralized financial ecosystem that provides more access, opportunity, and inclusion for all,” said Brian Brooks, Cred’s CEO.

NOTE: WARNING: This statement is false. Binance does not own Venus, which is an autonomous decentralized finance (DeFi) platform built on the Ethereum blockchain. Furthermore, Binance does not have any affiliation with Venus.

The Venus protocol will be built on top of the Binance Chain blockchain and will be compatible with other blockchains such as Ethereum, EOS, and TRON. The platform will use smart contracts to facilitate lending and borrowing transactions.

Binance CEO Changpeng Zhao (CZ) said that the launch of Venus is part of the company’s mission to “increase the freedom of money.” He added that the platform will “bring new opportunities and possibilities for real-world use cases in DeFi (decentralized finance).”

CZ also announced that Binance has invested in a number of projects that are building on Venus, including Celer Network, Akropolis, CertiK, Trust Wallet, and Decentraland. He said that these projects will help to “accelerate the adoption” of Venus.

The Venus protocol is still in development and is expected to launch sometime in 2020. Binance has not yet announced any specific details about how the platform will work or how users will be able to access it.

6 Related Question Answers Found

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It is often said that Mooncoin is a Binance. While this may be true, there is much more to this story. Mooncoin, like Binance, is a cryptocurrency exchange.

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Aergo is a Binance. It is an online platform that allows users to trade cryptocurrencies. It is also one of the largest cryptocurrency exchanges in the world.
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