Binance Launches New U.S. Division To Operate In The North American Country
- Binance launches new U.S. division to operate in the country
- The goal is to start offering services to individuals in the United States
Binance, the most popular cryptocurrency exchange in the market, is working on its Binance U.S. division to launch its exchange in the country. The firm is working with regulatory agencies in the country so as to target only US customers.
Binance Launches New U.S. Division
Binance is moving forward and expanding in the market. Due to different regulatory issues, U.S. traders have difficulties to use the Binance platform and other services such as the Launchpad. This is clearly not good for Binance that has reached a large number of individuals around the world.
According to CoinDesk, Binance is working with a firm called BAM Trading Services. The new platform is expected to be entirely operated by BAM and Binance will be offering the wallet and matching engine technologies.
This will be the formal entry of the cryptocurrency exchange to the U.S. market. Nonetheless, users in the country were able to access to this trading platform but with some restrictions, as mentioned before. The CEO of the company, which is also the founder, Changpeng Zhao, said that they are excited to launch Binance US and improve their speed and liquidity.
At the moment, there is no further information regarding BAM Trading Services, about what it does or how it operates. The registration document with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) noted that the regulatory agency does not verify information submitted by the MSB. The firm is now only available to operate in California.
At the time of writing this article, Binance is the largest cryptocurrency platform in terms of trading volume. In the last 24 hours, Binance handled $1.82 billion in trading volume.
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