Binance is a cryptocurrency exchange founded in China in 2017 by Changpeng "CZ" Zhao and Yi He. It has become the largest crypto exchange in the world by trading volume, with around $76 billion traded daily on the platform and 90 million customers worldwide. In addition to allowing users to buy, sell, and store digital assets, Binance offers access to over 350 cryptocurrencies and thousands of trading pairs. 

The company has also expanded to include various subsidiaries such as Binance Labs (a venture capital arm), Binance Launchpad, Binance Info, Binance Academy, Binance Research, Trust Wallet, Binance Charity, and a non-fungible token (NFT) platform. 

Binance is not available in several countries and regions, including the United States, Singapore, and Ontario, and some features may be limited in other countries due to regulatory restrictions. In 2019, Binance launched a separate platform for US customers called Binance US.

HISTORY

CEO Changpeng Zhao founded Fusion Systems in Shanghai in 2005, focusing on constructing high-frequency trading systems for brokers. Following this, he became a key member of the cryptocurrency wallet team at Blockchain.info in 2013. Zhao also spent a brief period as the CTO at OKCoin, a platform facilitating spot trading between fiat and digital assets.

Initially established in China, Binance moved its servers and headquarters to Japan prior to the Chinese government's ban on cryptocurrency trading in September 2017. By March 2018, the company had expanded its presence to include offices in Taiwan.

By January 2018, Binance had achieved the status of the largest cryptocurrency exchange, with a market capitalization of $1.3 billion.

The platform charges fees on a tiered system, with regular users being charged a 0.10% maker-taker fee for spot trading. Binance also offers margin trading and derivatives products such as Binance Futures and Binance Options.