With opportunity for customisation, Binance Cloud offers top-notch liquidity deployment, strong regulatory compliance capability, and time-tested system stability and reliability from Binance.com. It offers adaptability and deliverability through a B2B2C paradigm, which can aid in the convenient and effective operation of our business partners’ operations.
Binance Cloud has drawn customers from all across the world over the last two years. Both the business and technological aspects are continually changing because of our engineers and product managers. To fulfill market demands as well as particular business and customer needs, Binance Cloud offers more creative and enticing services.
To get access to a Binance Cloud-powered exchange, the local user can create an account in that exchange via a web browser or iPhone/Android app. Next, the user will be asked to verify their account (i.e., pass a KYC/KYB process that meets local regulatory requirements). Once the registration is completed, customers can deposit crypto assets from their personal crypto wallets or fiat assets through different channels (if fiat is allowed by local regulations). Afterward, the user will be able to enjoy the exchange services and access the liquidity pools provided by Binance Cloud.
Operating an exchange requires rigorous compliance processes to meet regulatory obligations. Many countries across the globe are beginning to roll out regulatory frameworks to cover Web3 services and related crypto assets. Binance Cloud offers the industry’s most advanced and customized compliance solutions, including KYC, KYB, and AML. It renders the whole system architecture more flexible and makes it easier for businesses and customers to comply with local regulatory requirements. For on-chain and off-chain screening, Binance Cloud integrates multiple industry-leading tools to perform transaction monitoring and risk rating. Binance Cloud partners simply need to work with local regulators to understand the requirements they must meet, and then they can customize their platform as needed.
Product architecture of KYC
Binance Cloud has integrated with many global and local OCR providers to verify users’ ID documents. We have partnered with many client screening tools to check users’ risk ratings and provide tailored KYC/KYB flows for our partners via KYC/KYB Transformer Engine (KTE). By using KTE, we are able to deploy tailored KYC/KYB processes within weeks to launch our partners’ businesses. Moreover, we provide a risk engine to identify customers’ fraud risk. This next-generation fraud detection tool can analyze users’ behavior, device info, and historical behaviors consistent with local regulations.
As crypto continues to garner more and more popularity, the volume of hacks and asset loss incidents has risen. Monitoring and validating on-chain and off-chain transactions is our topmost priority. Our risk evaluation system benefits from the Binance machine learning-powered risk control system, as well as several sophisticated third-party vendors’ solutions, which provide the local compliance team with the ability to screen transactions and detect potential issues. We strive to keep a balance between risk mitigation and user experience whilst complying with local regulatory standards.
As a one-stop-solution provider, Binance Cloud offers our partners a list of comprehensive exchange services, as well as flexibility to assemble diverse services to cater to their business demands. Our exchange services include:
Catering to the demand for a simple trading process, in some regions Binance Cloud offers the Convert trading service, also known as One Click Buy Sell, where we simply provide a buy and sell quote for clients to trade at. Behind the scenes, we utilize our powerful quantitative service to aggregate the prices from multiple liquidity providers, offering the best ask and bid price to clients.
To bridge the gap between fiat and crypto, Binance Cloud can integrate local banks or third-party fiat channels to perform deposits and withdrawals, and support legal compliance in line with the local regulatory requirements.
Binance Cloud provides a series of tools to improve user experience. A content management system (CMS) helps customize the exchange’s copywriting, pictures, translations, themes, page layouts, etc. Customers can use the tools provided within the CMS to easily post announcements as well to set up different themes for the site.
If our customers need more control of the page layout, they can use the page builder. Customers can choose components from a library and build web pages by drag-and-drop. Along with the page builder, an online code editor is provided to help the exchange operator customize business logic. Customers can also use page-builder to post activities, make promotion pages, set Easter eggs, and much more.
If there is a need for an even higher degree of customization, we provide an open API and a Micro-Front-End (MFE) system to help the customer’s team deploy self-developed features to the exchange. With this feature, the customer’s team can develop bespoke features in any programming language, including JS, PHP, Python, and Java.
Source: Binance
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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