In response to circulating market rumors about launching a new product to lure the next billion users, Binance has issued a clarification. The reports had alleged that the Binance Messenger was a strategic initiative to widen its user base dramatically.

However, representatives from Binance have shed light on these conjectures, stating that the Binance Messenger is not a new product launch, as the sensational stories have suggested. Instead, it is an existing service that has been tailored specifically for their VIP clientele. The company remains steadfast in squashing these rumors and reaffirming their product's niche offering.