Payments for BNB and BUSD, which are local to BSC, are now openly supported by FTX accounts, while purchases of Binance Smart Chain BEP-20 tokens would be available shortly.
As to what appears to have become a continuing trend of market presence, renowned digital currency trading platform FTX recently added a feature for BSC BEP-20 tokens to its own payment systems. However, there was no formal statement. FTX Chief Executive Officer Sam verified all the buzz surrounding the company’s plans, stating:
The prominent crypto exchange’s wallet started supporting Binance Smart Chain for BNB and BUSD (transferring are currently online, and the CEO believes; depositing of crypto would be soon to follow).
As per the relevant evidence, FTX wallets currently officially allow transfers for BNB and BUSD, which are both local to the prominent trading platform’s chain. Customers will eventually be capable of making payments using Binance Smart Chain BEP-20 tokens, as per the firm.
Nevertheless, the functionalities aren’t really accessible in the US FTX framework, as well as other restrictive regions. Sam previously told the press that perhaps the authorities might need 3 to 5 years to offer regulatory certainty for virtual currency firms wanting to function inside respective territories. In addition, the businessman has been said to devote 5 hours each day, including everything from legislation to license.
Not long ago, the business had restricted its customers to leverage deals ranking close to twenty times rather than close to one hundred and one times. The goal of such an action would have been to reduce the intrinsic instability problems connected with digital currency exchanges. Remarkably, the platform will not see a drop in the volume of trade as a consequence of the revelation.
FTX’s recent Series B funding phase welcomed over Sixty stakeholders, complementing the digital currency platform’s technological improvements. The transaction increased FTX’s value to a phenomenal $18b, which is a 1.4k percent jump from its original value of $1.2b.
Several leading companies, including Binance, employ similar techniques to encourage reduced-risk dealing and industry acceptance. Binance Chief Executive Officer Changpeng attributed such a decision to the objective of Consumer Safety, stating restricting new customers to twenty times leverage on futures trading was just something the CEO tried not to cause a problem.