by Kieran Smith
On April 24, 2018, Changelly landed a partnership with number one exchange Binance, with the aim of bringing more tokens, faster transactions and better rates to their users.
Matchmaking in Malta
The partnership arose from a meeting in Malta, during which the two CEOs discussed industry issues, government regulations, and the strategy behind their new collaboration.
“After meeting Konstantin in person to finalize our partnership, I am confident that Changelly has a professional team with great experience and even bigger potential. We believe that together we will provide users all over the world with a top-class level of service,” commented Changpeng Zhao, CEO of Binance.
Konstantin Gladych, CEO of Changelly, expressed enthusiasm for the future and remarked on the potential for growth that the partnership would provide:
“This partnership is a huge honor for Changelly: I am sure that it will help us provide even higher-quality service to our users around the world and increase our presence on the crypto market. The top exchange trusts us to have business with — this gives us confidence in what we do, and also responsibility to ensure five-star user experience. We are up for the challenge!”
Benefit for Both Platforms
Changelly will now integrate API and cryptocurrency rates from Binance, enabling it to offer better prices and faster trades.
The partnership could also enable Changelly to add more trading pairs. The Medium post reads that “all the cryptocurrencies supported by Binance can be easily listed on Changelly.” This agreement might enable rapid growth for Changelly, who only offer a small number of tokens compared to Binance.
For Binance, the partnership will help create more functionality in the crypto markets. An open interface between the platforms could increase transaction volumes, raise liquidity, and help attract new customers. Changelly will act as a “broker between Binance and users” allowing them to exchange crypto directly, and avoiding the complicated user interfaces associated with mainstream exchange platforms.
Binance’s recent move to Malta has prompted speculation that the exchange could soon be introducing fiat-crypto pairs. This partnership with Changelly would take the exchange one step closer to that goal.
What makes Changelly different from the plethora of other crypto exchanges is its ability to allow users to exchange altcoins at the best market rate, or buy them directly using a bank card.
To do this effectively, the company uses its unique API feed, in conjunction with a customizable payment widget. Changelly already provides an instant exchange API for partners including Jaxx, Coinmarketcap, Breadwallet, Coinomi, Mycelium and Coinpayments among others.
Proud to announce @Changelly_team partnership with @binance. It's bringing our instant exchange service to the next level with new trading pairs, better rates and faster transactions! Was a pleasure to make agreement with @cz_binance in Malta. @gladkos https://t.co/eB8KjY8qDf
— Konstantin Gladych (@gladkos) April 24, 2018
Changelly has seen rapid growth since launch in 2015. The exchange processes around 15,000 transactions every day, and has over two million registered customers globally.