Binance Connect was formerly called Bifinity and launched last year with the support of over 50 crypto assets and major payment methods.
Binance coin (BNB) dropped approximately 2.1 percent in the past 24 hours to trade around $233 on Wednesday.
The leading cryptocurrency exchange in daily traded volume and registered users, Binance, continues to feel regulatory pressure amid the mainstream adoption of digital assets. Big corporations are pulling all strings to enter the nascent blockchain and cryptocurrency industry.
As a result, veteran crypto startups are having a challenging time getting regulatory approvals to compete with the same big-name corporations. For instance, PayPal recently launched its U.S. dollar-backed stablecoins, and $9 trillion AUM investment manager BlackRock filed for a Bitcoin ETF.
Additionally, traditional fund managers including Charles Schwab, Citadel Securities, and Fidelity Digital AssetsSM teamed up to form a new crypto exchange dubbed EDX Markets.
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