Binance CEO Reveals Testnet Release Date for Decentralized Exchange

Cryptocurrency exchange Binance will launch a testnet version of its new decentralized exchange Feb. 20, CEO Changpeng Zhao confirmed on Twitter Feb. 12.

Binance DEX, plans for which first emerged last year, aims to provide a decentralized basis for cryptocurrency holders to trade tokens, removing liability and security hurdles associated with traditional, centralized platforms.

The testnet release will be public, with Zhao requesting feedback from users in the same tweet today.  

The date follows previous announcements with more details about Binance DEX, which will include support for cryptocurrency hardware wallets. This feature, Zhao said earlier this month, will allow users to trade while retaining control of their private keys.

Promises of a testnet had circulated since December, with Binance since launching an over-the-counter desk for large volume traders and other expansion features.

At the time DEX was announced, Zhao added that he anticipated it running either in tandem with the original Binance platform or even replacing it altogether, depending on market reactions.

Binance additionally plans to expand into at least two new markets in 2019, a company spokesperson confirmed in January.