NEO’s NEP-5 Tokens Are Coming to Binance

NEP-5 Tokens will soon be tradable on Binance. Binance is one of the most popular cryptocurrency exchanges on Earth when it comes to volume. In fact, in the last 24 hours, they ranked first on coin market cap with $1.616.338.838 daily volume.

The Chief Executive Officer of Binance CZ has been featured in a lot of business magazines lately including on the front cover of Forbes magazine.
But he enjoys the most support from NEO community since he announced on twitter Nep5 coming soon. This made him a very likable person in NEO community.

https://twitter.com/cz_binance/status/961238108393037824?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fwww.theusacommerce.com%2Fready-for-the-neo-neo-takeover-nep-5-tokens-are-coming-to-binance%2F

That’s a huge deal. NEP-5 tokens are to NEO what ERC-20 tokens are to Ethereum (ETH). New ICOs are launching on top of this platform and creating NEP-5 tokens as a result. Listing them on this most popular crypto exchange will only boost its profile and the population that can access these different tokens.

One of a very promising project on NEO platform is new cryptocurrency exchange called Neon Exchange (NEX). It’s an exciting project because it will feature ETH and ERC20 token trading. On top of NEP-5 tokens and GAS (GAS) beginning in Q3.

Just in the past days, a new partnership was announced between NEX and Red Pulse (RPX):

$RPX $NEO

Partnership between Red Pulse and NEON Exchange #NEX! #RPX will be the first NEP5 based decentralized app on NEX. NEX to develop an innovative seamless fiat-to-crypto conversion solution for Red Pulse users. #CoZ #Blockchain #Crypto https://t.co/eOxkKHUwUC pic.twitter.com/8Nziw99Nz4

— Red Pulse (@red_pulse_china) February 8, 2018

Here is how Red Pulse describes the new collaboration:

“The NEX payment service enables third-party smart contracts on NEO to send and receive global assets such as NEO and GAS. As part of the partnership, Red Pulse (RPX) will be the first NEP-5 based decentralized application to be included on the platform. NEX will also aim to develop a solution that will be embedded within the Red Pulse platform, allowing for seamless purchasing of RPX using conventional credit cards to directly convert to fiat, and deposit to users’ bank accounts using integrators on NEX’s network.”

If you do the math it’s 10times cheaper to lunch an ICO on NEO than Ethereum blockchain. This means a lot of new projects might consider NEO as a platform of their choice to support their project in the future.