Binance Launches First DeFi Project on Mobile Platform

by Bilal Jafar
  • The PancakeSwap Mini Program will reduce the barriers to DeFi.
  • Binance users will be able to explore the world of decentralized finance.
Binance logo
Binance logo

Cryptocurrency infrastructure provider, Binance recently announced that the company has launched the first DeFi project on its mobile platform, the PancakeSwap Mini Program. With an aim to lower the barriers to the world of decentralized finance (DeFi), the program will gradually open to all Binance app users.

DeFi is one of the fastest-growing sectors within the global blockchain and crypto ecosystem. In 2021, global investors parked billions of dollars under DeFi projects. Binance termed the recent launch an ‘important opportunity’ for its users to explore the world of decentralized finance.

In addition, the digital asset services provider announced Binance DeFi Wallet, a non-custodial decentralized Web3 wallet within the Binance application. Through the recent version of the Binance App, users can access the DeFi wallet.

Head of Product at Binance, Mayur Kamat, said: “CeDeFi is an important strategy for Binance’s development. As part of the strategy, the PancakeSwap Mini Program is only the beginning of the integration of DeFi projects into the Binance ecosystem. In the future, the Binance Mini Program feature will be open to more decentralized projects, providing users with smooth Ce-DeFi experience.”

Earlier this month, Binance announced the official launch of Bifinity, a payments technology company.

PancakeSwap

For PancakeSwap, the recent launch is an important opportunity to educate users regarding the role of DeFi in the crypto ecosystem.

“As the first DeFi project to launch a Mini Program, we have been working closely with Binance in the past few months. As we unveil more features and activities, we will also work together to improve the user experience of our DeFi products," said Chef Snowball, Head Chef at PancakeSwap.

In the past few months, Binance has strengthened its position across different regions with the acquisition of multiple licenses. The company recently gained a crypto-asset service provider license from the Central Bank of Bahrain (CBB).

Cryptocurrency infrastructure provider, Binance recently announced that the company has launched the first DeFi project on its mobile platform, the PancakeSwap Mini Program. With an aim to lower the barriers to the world of decentralized finance (DeFi), the program will gradually open to all Binance app users.

DeFi is one of the fastest-growing sectors within the global blockchain and crypto ecosystem. In 2021, global investors parked billions of dollars under DeFi projects. Binance termed the recent launch an ‘important opportunity’ for its users to explore the world of decentralized finance.

In addition, the digital asset services provider announced Binance DeFi Wallet, a non-custodial decentralized Web3 wallet within the Binance application. Through the recent version of the Binance App, users can access the DeFi wallet.

Head of Product at Binance, Mayur Kamat, said: “CeDeFi is an important strategy for Binance’s development. As part of the strategy, the PancakeSwap Mini Program is only the beginning of the integration of DeFi projects into the Binance ecosystem. In the future, the Binance Mini Program feature will be open to more decentralized projects, providing users with smooth Ce-DeFi experience.”

Earlier this month, Binance announced the official launch of Bifinity, a payments technology company.

PancakeSwap

For PancakeSwap, the recent launch is an important opportunity to educate users regarding the role of DeFi in the crypto ecosystem.

“As the first DeFi project to launch a Mini Program, we have been working closely with Binance in the past few months. As we unveil more features and activities, we will also work together to improve the user experience of our DeFi products," said Chef Snowball, Head Chef at PancakeSwap.

In the past few months, Binance has strengthened its position across different regions with the acquisition of multiple licenses. The company recently gained a crypto-asset service provider license from the Central Bank of Bahrain (CBB).

About the Author: Bilal Jafar
Bilal Jafar
  • 2441 Articles
  • 71 Followers
About the Author: Bilal Jafar
Bilal Jafar holds an MBA in Finance. In a professional career of more than 8 years, Jafar covered the evolution of FX, Cryptocurrencies, and Fintech. He started his career as a financial markets analyst and worked in different positions in the global media sector. Jafar writes about diverse topics within FX, Crypto, and the financial technology market.
  • 2441 Articles
  • 71 Followers

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