New crypto-currencies are being invented, and they’re not Bitcoin or Litecoin.
Rather, they’re an entirely new kind of digital currency.
“We are not interested in a fiat currency, like Bitcoin,” said Amir Sufi, co-founder and CEO of Binance.
Instead, he said, it’s all about decentralized systems that can function without the need for a central authority to mint and issue money.
Bitcoin, which was created by a group of computer scientists in 2008, has been used widely to pay for goods and services online.
It has also been used to buy drugs and other illegal goods, according to the FBI, which filed criminal charges against an alleged Silk Road administrator in December.
Binance, which recently raised $3 billion, said it would create the crypto- currency, called AvaXchange, using technology developed by the Israeli-born entrepreneur Adam Draper, who is best known for developing a bitcoin-based currency called BitShares.
It will offer customers the option of buying Ava tokens that they can use to pay other people for services and goods, like renting a car or paying for a plane ticket.
Ava will allow users to transfer money in exchange for services like renting out their homes, buying groceries, or paying rent.
The Ava exchange is similar to the cryptocurrency Bitcoin, which is an open source cryptocurrency that has attracted a legion of users to its peer-to-peer network.
The Ava blockchain uses a similar technology to Bitcoin to create a decentralized ledger that can hold a large amount of data, including all transactions made between two parties.
It can also be used to transfer assets like a house or a car to anyone in the world.
AvaXChange will work similarly to Bitcoin, Sufi said.
Customers will be able to buy and sell Ava tokenized assets such as houses, cars, or even bitcoins.
AvA will also be issued in pairs.
Users can purchase a token for Bitcoin or Ava using a crypto-token exchange such as Coinbase or Blockchain.
The coins will be bought and sold on a platform where the buyer and seller pay to receive Ava.
Avast, which operates the Coinbase platform, announced in October that it would allow users in the U.S. and Europe to buy Ava in exchange of dollars or bitcoins.
It’s a bold move for the crypto currency, which has struggled to gain traction in mainstream financial markets and is now trading at $9.30 per Ava coin.
Bitcoin’s value is down almost 20% this year.
AvaXchange is currently trading at about $1.50 per Avai token, Sufiyas team said in a press release.
If users want to exchange Ava for Bitcoins, they can purchase Ava from the platform.
Bitcoins can be purchased at about 8 cents each on Coinbase, the company said.
In the near term, Ava-Xchange users can purchase ava from exchanges like Coinbase and Bitfinex, Sufais team said.
Users can also use the Ava Exchange app on their phones, tablets, and computers to purchase Avai tokens.
On Thursday, Avai announced it had raised $9 million in Series A funding led by the digital currency and blockchain startup Ledger Group, led by Draper.
Draper is also a co-owner of the team behind BitShares, the Bitcoin blockchain-based cryptocurrency.
The company has raised more than $1 billion from investors including Alibaba, Andreessen Horowitz, Benchmark, and Qualcomm Ventures.
The announcement came after Sufi raised $1 million in early December.
He and his co-founders announced in January that they had raised more money to launch Ava Xchange and would launch the Avai platform with the Avia token, or AvaaX, as early as next year.