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Binance collaborates with Google Cloud to support web3 startups

Binance collaborates with Google Cloud intends to provide boost Web3 and blockchain startups with cloud computing credits and mentoring.

Binance CEO Changpeng Zhao announced that BNB Chain, a blockchain closely associated with the crypto exchange Binance collaborated with Google Cloud on September 14. The new cooperation intends to promote the development of blockchain and Web3 firms in their early stages.

Binance collaborates with Google Cloud
Binance collaborates with Google Cloud

According to a press release, projects built on the BNB Chain may now utilise Google Cloud infrastructure. It includes the capacity to analyse on-chain data and encrypt data using Google Cloud. A BNB-focused accelerator programme will also grant 150 businesses “expedited access” to Google Cloud’s startup assistance programme.

Gwendolyn Regina, investment director of BNB Chain, remarked on the development:

“Google Cloud is a very skilled Web2 player and has done a lot of Web3 work. It’s vital for us to only engage with significant companies that have huge aspirations and with whom we have the same DNA and similar visions. “

Google has already begun to get closer to the web3 world in 2022. Google started putting together a team to provide Blockchain services in May, and this may be the first option for blockchain developers. In this new year, Google also started looking into cryptocurrencies as a possible payment method. The concept has not yet been completely implemented. Google has not yet made any comments on the new partnership with BNB Chain. There is not yet a timetable for the collaboration’s objectives.

Binance CEO says strict crypto rules in Europe for stablecoins are “Fantastic” 

Changpeng Zhao, alias CZ, the founder and CEO of Binance, gave a speech during the Binance Blockchain Week Paris 2022. In his address, CZ praised the “fantastic” MiCA (Market in Crypto Assets) proposed crypto regulations for Europe. However, he also called the restrictions too strict for stablecoins. The draft does not embrace “USD-based stablecoins, which have 75% of the market’s liquidity,” according to CZ. However, CZ believes that the European rules will be taken as the standard in the industry.

Binance launches low-threshold Ethereum staking program

Binance’s US subsidiary, Binance US, stated that it will begin offering annual percentage incentives of up to 6.0% for staking Ethereum (ETH). According to the new service that Binance US has introduced, direct staking on the Ethereum network would only need 0.001 ETH instead of the 32 ETH required under the old arrangement.

In some ways, features like Binance US’ automatic restake, which allows returns to compound and so helps with the general growth of the coin, increase the staking yields. According to Binance US, neither the method by which investors may recover their staked ETH nor the overall amount that may be recovered are subject to its control. 

Read more:

Binance CEO expresses his displeasure with Twitter on bot army issue

 

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Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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