Binance is a cryptocurrency exchange that was founded in 2017. The company is based in Malta and has offices in Singapore, Tokyo, and Hong Kong.
Binance is the world’s largest cryptocurrency exchange with a daily trading volume of over $2 billion. The company has over 10 million users from over 180 countries.
Binance was founded by Changpeng Zhao, a former software developer at Oracle. Zhao is a Chinese national who previously lived in Japan.
He is a self-taught programmer who started his own software company in China.
The company’s name comes from the combination of binary and finance. Binance is an abbreviation of “Binary Finance”, which refers to the fact that the company deals with digital assets.
The company has been incredibly successful since its launch. In just six months, Binance became the largest cryptocurrency exchange in the world by trading volume.
The company has also been profitable every month since its inception.
In March 2018, Binance announced that it had raised $200 million in a Series A funding round, valuating the company at $1 billion. The investment was led by Vertex Ventures China and included participation from Sequoia Capital, GIC, IDG Capital, and others.
In June 2018, Binance announced that it was planning to launch its own blockchain platform, called Binance Chain. The aim of Binance Chain is to provide a decentralized exchange for trading cryptocurrencies.
The platform is currently in development and is expected to launch in 2019.
Who owns Binance?
Binance is owned by Changpeng Zhao, a Chinese national who is also the founder of the company. Zhao owns a controlling stake in the company and holds the title of CEO.