Friday, 18 September 2020

Bananatok to launch a social exchange, “BananaEX”

In the blockchain industry in South Korea, many experts see Bananatok, a blockchain-based messenger, as a game-changer, thanks to its user-friendly services. Bananians(Bananatok users) can communicate with other users without language barriers, transferring over 200 kinds of cryptocurrencies on chatting rooms.

On the second half of this year, it plans to provide another useful service to help Bananians easily trade currencies. With BananaPay, a payment system that supports both fiat and digital currencies, Bananatok will launch BananaEx, a social exchange.

Bananatok announced that it will operate BananaEX platform, which has Social Futures Exchange by cooperating with Binance.

"Bananians can communicate with other people on Binance channel, installed in Bananatok app, easily trading Futures without visiting Binance. Bananians can use Binance services with various digital assets on our Social Futures Exchange," said Han Jae-seung, the Chief Technology Officer(CTO) of Bananatok.

"Global digital asset market is gradually turning from spot market to derivatives market. The scale of derivatives market, which would be exponentially growing, is larger than that of spot market. Bananatok, which adopted the advantages of Social Network Service(SNS) on digital asset derivatives trading, would expand the scale of digital asset market, innovating the use of blockchain," said Cho Woo-chang, the president of Bananatok.

"The market faced chaos affected by some factors: the recession and the decline in asset values caused by the COVID-19; ACT ON REPORTING AND USING SPECIFIED FINANCIAL TRANSACTION INFORMATION, introduced in March, 2021. Bananatok, however, will prepare for the end of current bearish sign to strengthen its position with aggressive promotion, advanced technologies and services," emphasized Cho.

Bananatok’s existing services are unprecedented ones in both blockchain and digital currency industries. And, with its new useful services, Bananatok can pioneer the industry.


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