Venus (cryptocurrency)

2019: Start Project

In August 2019, the world's largest cryptocurrency exchange Binance announced the launch of the Venus project, which should become an "independent regional version" Libra or an analogue of the cryptocurrencies social network. Facebook

The Venus blockchain project will be an initiative to develop regional stablecoins and digital assets tied to fiat currencies around the world.

Binance is looking for partners among governments, corporations, technology and cryptocurrency companies ready to join them in this project in order to "enable developed and developing countries to stimulate the emergence of new currencies." Such an approach would give those States greater financial autonomy and protect their financial security.

The world's largest cryptocurrency exchange has launched an analogue of Facebook cryptocurrency

Binance is embarking on a new project with some experience - it has already created a well-established network for working with customers and regulators around the world on its Binance Chain blockchain platform. The company believes that the Venus project should put an end to the financial hegemony created by individual cryptocurrencies. Binance Chain has already released stablecoins based on BTC and the British pound, and its speed is comparable to the traditional banking system.

The company promises to provide future partners with full technical support, a risk control system and a multifaceted network of cooperation based on the existing infrastructure and work with regulatory institutions.

Like Facebook, Binance has ambitious plans. Co-founder Yi He believes that in the near and long term, steeblocks will gradually replace traditional paper currencies in countries around the world and become the basis of a new, balanced standard for the digital economy.

Binance welcomes mutually beneficial cooperation and notes that states that are the first to adopt new technologies will have an advantage in the future.^[1]

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