The CommEX cryptocurrency exchange is only a technical company to transfer the Russian part of the business to Binance. The launch of CommEX took place on September 26, the day before Binance announced its final exit from Russia.

In accordance with the Terms of Use, CommEX Holding Limited is registered in Seychelles. At the same time, the legislation of Hong Kong is used to resolve legal disputes. Binance uses a similar practice.

The owners, managers and beneficiaries of the company are not reliably known. Therefore, it is possible that Binance simply changed the sign under pressure from the regulator, and inside everything will remain as it was.

On September 28, the top manager of Binance announced that the design and API on the new exchange will be similar to the old one. This is supposedly done intentionally for the convenience of users.

And already on September 29, CommEX announced in an open letter that it employs former Binance employees and they have been working for 6 months to attract them to work.

They also explain why Binance sold the business to them: “Based on the trust in former Binance employees and given our proven technological capabilities, choosing us was not a risk, but the best decision.”