You can be on Entrepreneur’s cover!

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

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Polymesh

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.

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.

Paromita Gupta

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
News and Trends

Pediatric behavioral Health Platform Butterfly Learnings Raises INR 32 Cr in Series A Led by Insitor Impact Asia Fund II and Enzia Ventures

The Mumbai-based platform aims to deploy the raised funds to scale its technology-enabled therapy programs to equip neuro-diverse children to integrate with society and manage their lives better.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

This One Word Is a Giveaway That You Used ChatGPT to Write an Email, According to an Expert

"Delve" has increased its presence in written work since ChatGPT entered the scene.

Science & Technology

How Can Marketers Use ChatGPT? Here Are the Top 11 Uses.

With the recent developments in AI and the popularity of ChatGPT, you may want to integrate AI into your marketing practices. Find out how.

Marketing

5 Ways ChatGPT Will Impact Digital Marketing

ChatGPT is creating ripples across the digital landscape right now. Here are five ways it can benefit your ads, campaigns and marketing strategies.

Side Hustle

This Dad Started a Side Hustle to Save for His Daughter's College Fund — Then It Earned $1 Million and Caught Apple's Attention

In 2015, Greg Kerr, now owner of Alchemy Merch, was working as musician when he noticed a lucrative opportunity.