Binance, the planet’s biggest crypto exchange by volume, has released a new feature bridging its services to the decentralized finance (DeFi) world.
In a new announcement, Binance says it’s introducing CEX to DEX (centralized exchange to decentralized exchange) trading, a new feature that enables users to trade tokens through their wallets using their Binance CEX funds.
According to the company, Binance users can now directly trade on-chain through the Binance Wallet tab with their spot or funding account balances using stablecoins to access tokens trading on decentralized exchanges via the Ethereum (ETH), Solana (SOL), Base and BNB Smart Chain networks.
“This feature bridges the gap between centralized and decentralized trading, providing Binance users with a more seamless way to purchase tokens on-chain.”
The new feature comes as Binance CEO Richard Teng recently revealed what he thinks are the factors that could catalyze the mass adoption of crypto assets.
In a recent interview with crypto personality Scott Melker, Teng said that crypto needs the support of regulators and institutions.
“Firstly, you need more regulatory clarity. Because for the early adopters, people are embracing it without clarity. But for mass adoption to come through, they need to understand that the regulators are looking into this space, they feel adequately protected for mass adoption to come through.
Secondly, you need institutions. Because without institutions, if it’s mainly retail play, the price action is going to be extremely volatile.
So with more institutions, with more buy-and-hold users, and investors with a different time horizon, then the price movement will become much less volatile and the market cap will become much bigger over time.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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