Polymesh Welcomes Binance As Its Blockchain Node Operator Binance will join the Zug-based platform's 17 existing node operators which include Entoro Capital, Nyala, Oasis Pro Markets, Scrypt Asset Management AG, Tokenise, and Saxon Advisors.
By Paromita Gupta •
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On Thursday, the Polymesh Association, a Switzerland-based institutional-grade permissioned layer-1 blockchain platform for regulated assets, announced it was welcoming Binance, the leading global cryptocurrency exchange, as its node operator.
Welcome @binance to Polymesh! ?
— Polymesh ?️ (@PolymeshNetwork) April 20, 2023
Ya heard it right – the world's leading #crypto infrastructure provider is now a Polymesh node operator ? https://t.co/NBSPCC3m5Y
See our blog post for details! #Blockchain #DeFi #BlockchainNews pic.twitter.com/9Y0aA6DJwF
Binance will join the Zug-based platform's 17 existing node operators which include Entoro Capital, Nyala, Oasis Pro Markets, Scrypt Asset Management AG, Tokenise, and Saxon Advisors.
"Binance is the clear-cut leader in blockchain no matter what data you use. Onboarding Binance as the newest node operator provides Polymesh with a massive boost in visibility, credibility, and security. We are encouraged by this development, and look forward to growing the Polymesh ecosystem with Binance's support," said Graeme Moore, Head of Tokenization, Polymesh.
Polymesh, with this move, aims to expand its security tokens and POLYX to a wide audience globally. The Changpeng Zhao-established blockchain has registrations and regulatory compliance in over 16 jurisdictions and will be taking care of securing the Polymesh blockchain while allowing POLYX holders to utilize staking capabilities through Binance, i.e. letting the holders earn passively with their digital assets without selling. Becoming a node operator will have Binance write new blocks to validate transactions that enter the chain before it reaches the Polymesh network.
By tying up with Binance, Polymesh will gain added credibility and reliability, helping the platform gain more users and investors. This can be seen through the price surge of POLYX, the Polymesh token, which was up 58 per cent from $0.15 to $0.26 on the day of announcement. Polymesh also clocked in an intraday trading volume of $690 million.
