By Richard Hines
Leading Trading protocol Binance has noted that it is currently inspecting digital ledger integration as a signal of digital currency payment launch on the social site.
Binance mentioned that it is in the process of examining digital ledger integration for the possible launch of digital asset payments. Right after its $500 million investment in the Twitter acquisition contract, the protocol said it has commenced plans towards digital currency integration on the social site.
A mediator of the leading company confirmed that Binance is setting up a unit to focus on the establishment of a crypto-related resource for Twitter.
Binance To Support Twitter Development With Digital Currency Integration Plan
As published by Reuters, the trading company is committed to building up a unit that would help to execute crypto integration on Twitter.
The unit will initiate various means on how digital ledgers and digital currencies will benefit the social platform, the publication explained according to the words of Binance mediator.
Binance will also attach focus on the social site’s challenges like the expansion of bot accounts, which is in line with Musk’s prerogatives for Twitter, Reuter’s publication added.
Progressively, the trading protocol aims to initiate digital currency on the social site. The exchange highlighted that it will assist Elon Musk with strategies that will enhance the growth of the newly acquired platform.
Similarly, Musk has underlined his goal for this recent takeover, which includes the elimination of heightened discrepancies.
Binance chief executive officer Changpeng Zhao corroborated the $500 million commitment made towards the $44 billion worth of Twitter purchase. CZ noted that this investment is directed at limiting spam and fraudulent activities on Twitter.
Binance Extend The Incorporation Of CBDC
Amidst the focus on Twitter development, the trading platform is also on a continuous mission to extend its reach of digital currency-related technology with global associates.
A recent report revealed that the platform has mentioned that is in the process of connecting Kazakhstan’s CBDC agenda with its BNB blockchain network.
The central bank of Kazakhstan has proposed to partner with Binance to incorporate the BNB blockchain network with its digital currency known as the Digital Tenge, as declared in the earlier days of this week.