Cryptocurrency exchange company Binance has registered a domain name with the Chinese government.
According to public records, the Ministry of Industry and Information Technology in China approved Binance's domain name, binance.cn, in April. The domain name is registered under the company Shanghai Bi Nai Shi Information Technology LLC, which has a similar pronunciation as Binance in Chinese.
The government record also shows that Binance registered the domain name under the company Shanghai Bi Nai Shi Information Technology LLC. As Chinese crypto media site ChainNews first reported, the only legal representative of this company, Junxi He, has two other companies registered under his name. All three of the companies were registered within the past three months and possess names that pronounce similarly to Binance.
On the website, Binance claims to be "the world's leading blockchain ecosystem developer" and has been "dedicated to the development and commercialization of the blockchain technology." As the site states, the services it aims to provide in China include consulting, research, development, charity, and investment in the blockchain industry. It also includes a series of explanatory blog posts on a few basic concepts in blockchains, cryptography, and finance.
The website appears likely to be part of the company's new initiative for a blockchain research institute in China. In March, Binance Academy, the nonprofit education subsidiary of Binance, announced that it has established the research institute for blockchain technology research and development. A representative for Binance confirmed this connection when reached.
Huobi has been running a similar blockchain-as-a-service campaign in China. It is a member of the Blockchain Service Network, an organization supported by the Chinese government-backed think tank State Information Center to provide the blockchain technology as a service to both domestic and oversea businesses.
Similar to Binance Academy, Huobi also runs an educational institute named Huobi University that has been in operation in China for more than a year.