Binance, in its first inception in 2017, was active and based in China.

But after the Chinese government decided to ban cryptocurrency trading, Binance decided to leave, but it kept its eye on China and the large Chinese market, which is one of the largest global financial markets due to its population density is the largest in the world.

Binance’s return to China:

After Binance left China, reports emerged news Recently, it reported its return to Chinese territory, but not through digital currencies and its circulation, but through blockchain technology.

Commenting on Binance’s return to China, Tell Changpeng Zhao recently made the following statement on Twitter:

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Education and technology first.

According for official records To register the URLs, Binance has registered its domain name binance.cn with the Chinese government, which is approved by the Ministry of Industry and Information Technology of China.

Binance is registered under the name “Shanghai Bi Nai Shi Information Technology LLC”.

According to to source The Chinese have registered two additional companies with similar names, one in Shanghai and the other in Shenzhen.

The three have been registered since February 24, under one legal representative. According to He Junxi, the Chinese names of these three companies are similar to their initials to “Binance”:

👀👀 BINANCE CHINA COMING Tweet embed Tweet embed If the Binance Empire can return to China via a “blockchain approach, not a crypto approach,” the “曲线救国” strategy will really work.

What does he say on his landing page (continued. pic.twitter.com/6pWNZxU9CT

DoveyWan 🪐🦖 (@DoveyWan) May 19, 2020

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The binance.cn domain was registered and uploaded at least two months ago, based on blog posts contained in this site, the oldest of which were published in the first half of March.

Binance.cn describes itself as “the world’s leading developer of the blockchain ecosystem and a leading institution in the blockchain industry.”

On the other hand, the home page of “binance.com” is presented as the leading trading platform in the world of cryptocurrency.

The posts on binance.cn mostly focus on monthly reviews and updates, research reports on blockchain, central bank cryptocurrency, Libra, etc.

Another page on the “binance.cn” website offers a number of blockchain courses, technology education and application, privileged economy, network security, portfolios, research and development, consultancy, incubation of start-ups, and a blockchain academy…

Some clarity may lie in a Mars announcement on the main Binance website, which indicates that Binance Academy has set up an institute in China called:

“Lingang Blockchain Technology and Industry Research Institute”

The Binance PR representative confirmed that the site is part of this effort, and reported:

It is an initiative of Binance Academy, the nonprofit educational arm of Binance.

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Adding by saying:

It is a research institute related initiative that started in March.

He did not provide more information.

However, it seems, in general, that Binance has returned to China to teach and disseminate blockchain technology and not to trade cryptocurrencies, at least for the time being.

It was reported last September that Binance made its first strategic investment in China, where it joined a financing round of about $200 million, according to data website Mars Finance.

The situation of blockchain and crypto in China is a contradictory situation, as cryptocurrencies based on blockchain technology are prohibited from being traded, but blockchain technology is allowed and is being developed on the direct recommendation of Chinese President Xi Jinping.

Read also:

Binance intends to compete with Ethereum by launching a new blockchain…. Details here

China’s central bank launches blockchain-based trade finance platform