Binance can obtain in 2018 the year to $1 billion profit

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The leading crypto currency exchange Binance expects this year to receive net profit of about $1 billion For the first half already received about $300 million in revenue, but a five-fold increase in the number of users you can expect a more significant growth. The exchange is making firm strides to expand on a global scale.

10 million users

The average daily turnover on Binance, which was launched just a year ago, is about $1.5 billion, the Number of users increased from 2 million that there were in the beginning of the year, to 10 million today, according to the publication Bloomberg.

This demonstrates significant growth Binance since like a year ago, the exchange has entered the primary offer of coins received from the investors capital in the amount of $15 million Trades on the platform by the end of 2017 has reached the maximum performance with rising prices for cash, when the daily turnover on the exchange reached $11 billion.

In search of a better home

Binance was founded in China, but after the ban on the cryptocurrency activity in the country was forced to move to a more friendly jurisdiction. The stock exchange has moved its headquarters to Japan and opened an office in Taiwan.

In March, the Japanese financial services Agency has issued an alert, forbidding to carry out the exchange of services without obtaining a license and asked the exchange to close the office. Then the operation of the trading platform was transferred to Malta, where the exchange intends to provide the possibility of trading Fiat pairs.

Binance, not only cryptome, which attracted the favorable business climate of Malta. Another crypto currency exchange with Chinese roots, Okex, announced the move in April, as well as Polish Bitbay in may.

This month Binance announced the launch of its trading platform in Uganda, and has previously signed a partnership agreement with the government of Bermuda to establish a global centre on blockchain technologies.

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