Mobile phone with Binance exchange app open. Mobile in laying on top of a laptop.

Nugget’s News founder Alex Saunders spoke with Binance co-founder and chief executive Changpeng ‘CZ’ Zhao on Thursday. CZ had plenty to say about Binance—the world’s largest cryptocurrency exchange operator—in the 40-minute interview. There were five points shared by CZ that were particularly noteworthy.

#1 — TravelbyBit Travel Card announced

Coinciding with Thursday’s interview with CZ was Binance’s announcement of its collaboration with TravelbyBit—a Binance-backed online travel agency that offers booking services for travellers using various cryptocurrencies—on a new travel rewards debit card.

At launch, users will be able to load their TravelbyBit Travel Card with any of the following four cryptocurrencies: bitcoin (BTC), Binance USD (BUSD), Binance Coin (BNB), and Ontology (ONT). Once loaded, the card will be able to be used to book flights and hotels on the world’s leading online travel sites such as Booking.com, Expedia, and Agoda.

#2 — ‘Crypto Street’ hits Adelaide

Along with TravelbyBit, Binance has been working with the South Australian government on its ‘Crypto Street’ initiative. As CZ explained in the interview, all merchants on a particular Adelaide street will be fitted out with cryptocurrency-friendly point-of-sale terminals.

#3 — Binance Futures set to become ‘multi-contract platform’

CZ told Alex that Binance had just launched ether (ETH) futures contracts on the testnet version of Binance Futures. When this goes live on mainnet, Binance Futures will become a “multi-contract platform,” he said. Currently, users are only able to leverage trade BTC futures contracts.

#4 — Setting free the Binance Chain source code

Having just spoken with some Binance Chain core developers prior to the interview, CZ said they agreed that the “entire source code” of Binance Chain will be open sourced. As acknowledgement for their ongoing efforts, the core developer community will get access to the code before it is shared publicly, CZ added.

“The guys who are actively developing for Binance Chain are going to get a full source code. This way, they can actually do more development work for Binance Chain. That’s happening now. This is a brand new thing that we literally just decided yesterday. We’ll start pushing this out now.”

#5 — BNB discounts futures

When asked about recent or upcoming BNB use cases, CZ said that BNB holders will soon be able to access discounted trading fees on Binance Futures, the company’s fast-growing futures contract trading platform which launched in September. 

“In a week or so, we’re going to make a change to the Binance Futures platform so that when you use BNB to pay for futures trading fees, you also get a discount,” he told Alex. “That is very similar to the spot model.”


Sick of having to trawl through the abundance of clickbait-y cryptocurrency and macro finance headlines?

Let Nugget’s News do the work for you with an extensive recap of the week’s events from not just the crypto space, but also that of macroeconomics and finance in our weekly digest.

There’s market commentary, too, as well as sentiment analysis, what to expect in the week ahead, a comprehensive calendar highlighting upcoming events and much more.

Sign up to Nugget’s Weekly Digest for less than $2 AUD a week.

SHARE NOW:

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *