Binance Exchange sets the crypto world seismograph fluttering again with its latest announcement of donating token Listing Fees it collects to Charity. More importantly, it might be the end of the excessive commission that exchanges charge to enlist Projects on their trading platform because henceforth all Projects have the option of setting their price to figure on Binance Exchange. In the exchanges’ blogpost, Binance stated it would donate all funds raised in the account of listing fees to charity.
To eliminate every type of controversy, Binance has opted to disclose fees that the projects are willing to pay to the charity arm of Binance Charity Foundation. At the same time, Changpeng Zhao (CZ), the CEO, has warned that high-sized donations will not qualify the project to for processing by its Listing Review team: “A large donation does not guarantee or in any way influence the outcome of our listing review process.”
This move is yet another example of the mission Binance is committed to achieve as cryptocurrencies begin to gain a stronger commercial presence in economies around the world. Binance supports UNIDO’s sustainable Development Goal’s funding needs by channeling its services through the Blockchain for Charity Foundation and through UN Ambassador for Goodwill Helen Hai.
Malta-based Binance has in many ways, become the gatekeeper of crypto world’s exchanges lately, by changing rules that are standard practices into smart and profit-sharing opportunities for every crypto user – as for a business, retailer and end users.
It has adorned a self-appointed mantle to become the leader of crypto-trading has been its timing in launching ambitious trading opportunities. This time around Binance nurturing backing bitcoin crypto infrastructure.
In our recent report from Delta Summit, CZ explained how Binance is trying to promote projects that drive forward the adoption of crypto. Of these projects, he noted the Binance Academy is aimed at disseminating knowledge, education, and practical training on operating correctly in a crypto environment.
CZ also talked about Binance’s activity outside of Malta and their initiatives in Asia and Africa, and the attempt to set up local FIAT-crypto exchanges in Taiwan, Singapore, and many other countries as part of work tightly with the various regulators. Binance’s attempt to spread is another step as part of the broader process of international adoption stemming from the view that the financial reality will determine the rules, they only provide the tools.