Wu Blockchain (@WuBlockchain): CZ on Founding Binance: From SaaS to Building His Own Exchange
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CZ on Founding Binance: From SaaS to Building His Own Exchange On February 10, Binance founder Changpeng Zhao said in an interview on the All-In Podcast that his team initially operated a SaaS software licensing business, charging fixed monthly fees to exchange clients. However, in March 2017, after Chinese regulators tightened policies and shut down most of their clients, the foundation of the business quickly disappeared. The team began exploring new directions and ultimately decided to stop focusing on external investments or simply providing systems. Instead, leveraging their existing technical capabilities, they chose to build a crypto-to-crypto trading platform themselves. In May 2017, the team formally decided to launch their own cryptocurrency exchange, marking a key starting point for the eventual creation of Binance. Source: https://www.youtube.com/watch?v=vQwXgxJxwnw