Binance’s New US Fiat-Crypto Oriented Branch

Binance’s New US Fiat-Crypto Oriented Branch

Recently, Binance.US news has announced that it will start trading fiat-crypto and crypto-crypto trading pairs on Tuesday. The company is the American arm of cryptocurrency exchange giant Binance. The newly launched trading platform will list up to seven cryptocurrencies including bitcoin. These are Ethereum, Bitcoin Cash, Litecoin, Binance coin (BNB), XRP, and Tether’s USDT.

Last Wednesday, the new exchange started to open for registration and deposits but did not disclose a specific date for an official launch. The platform announced that it plans to open deposits for another five assets: basic attention token (BAT), ethereum classic (ETC), cardano (ADA), stellar’s XLM, and 0x.

Also, Binance’s recently launched dollar-linked stablecoin BUSD. However, it is not yet supported. In the weeks ahead, the branch will present additional cryptocurrencies that meet compliance standards based on its Digital Asset Risk Assessment Framework and U.S. regulations.

However, the platform CEO Catherine Coley announced, that users who already have deposits with, should know, that they would not see their funds automatically transferred to the U.S. platform, Binance.US. In addition, the newbie clients for the brand-new exchange will also receive a $15 referral bonus. 

In addition, the Binance.US branch announced that it would work on strengthening its compliance and security practices. It is important to create a safe trading space for users. This goal can be reached through trustworthy and professional partnerships. Most notably, the Binance.Us plans to start an alliance with software provider Chainalysis and KYC/AML tool provider IdentityMind.

A step towards Global Market

At the beginning of January 2019, Binance has launched a crypto exchange on the island of Jersey, which is a British self-governing dependency. This exchange provides to traders in Europe and the U.K.  It offers users to trade Ethereum and Bitcoin against the British pound and euro.

Also, Binance has also been trying to push its US dollar-backed stable coin as a potential competitor against Libra Crypto.