Binance, the largest cryptocurrency exchange by trading volume, announced that it is officially developing a public Blockchain to create a new decentralized exchange, according a statement on March 13.

Binance’s vision that “centralized and decentralized exchanges will co-exist in the near future, complementing each other” inspired them to develop the Binance Chain, which  will be used for the transfer and trading of Blockchain assets. The move will also push the cryptocurrency exchange toward transforming from a company into a community.

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