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Today, on September 24, crypto exchange giant Binance has announced the launch of its arm in the U.S. market. Binance.US is finally opened.
Malta-based cryptocurrency exchange Binance has finally opened up it’s long-awaited “store” in America’s part of the crypto-space, by launching trading on its new exchange for U.S. users. Today, on September 24, Binance.US has been officially launched.
— Binance.US (@BinanceAmerica) September 24, 2019
The company hopes that by doing so, it could enlarge its influence on the world’s largest economy and become one of its leading cryptocurrency trading locations. Until now, in the U.S. we could find only Coinbase and Gemini that are both still very much recognizable options available to U.S. traders.
In an announcement, Binance.US said it would have 13 inaugural trading pairs across the cryptocurrencies of Bitcoin (BTC), Bitcoin cash (BCH), Binance Coin (BNB),Ether (ETH), Litecoin (LTC), XRP, and the Tether stablecoin (USDT).
Had a small deployment glitch at the beginning, fixed.
— CZ Binance (@cz_binance) September 24, 2019
In their separate announcement, the exchange said support for the second wave of projects would be rolled out on September 25, just one day after launch. The list of the coins to be added includes Basic Attention Token (BAT), Cardano (ADA), Ethereum Classic (ETC), Stellar (XLM), and 0x (ZRX), and they are now able to be deposited onto the platform.
The company’s disclosure of BNB support when it opened deposits last week, came as a surprise to some users, because there were certain speculations in some circles that Binance might avoid doing so, at least at the start (before CZ confirmed that BNB would be supported), over the possibility the U.S. Securities and Exchange Commission (SEC) might consider BNB a security.
Until November 1, 2019, Binance.US will offer zero fees and additionally, all new users who complete Fiat Verification will receive a $15 sign-up bonus once they reach $100 in trading volume (buy and/or sell, any trading pairs).
Also, you can earn yourself an extra $15 for every new sign-up you refer to Binance.US.
Introducing the https://t.co/AZwoBOy3iq Referral Program
💵Get $15 when you complete $100 in trading volume.
— Binance.US (@BinanceAmerica) September 19, 2019
Catherine Coley, CEO of Binance.US. said:
“Binance.US is tailor-made for Americans at every step of its development. We are thrilled to establish Binance.US as a distinctive marketplace with roots in America, as we aim to educate and foster the American community to adopt crypto with purpose.”
She commented that in their partnership with Binance, they plan to work together on increasing the freedom of money worldwide while bringing their unmatched trading technology platform to the U.S. and supporting the expansion of a globally recognized brand in a key market.
“We look forward to providing more security and accessibility to digital currencies and the blockchain projects behind them for the American Binance community.”
It’s worth mentioning that a new CEO, Catherine Coley, is a former head of XRP institutional liquidity at Ripple and has previously worked for Silicon Valley Bank and Morgan Stanley, managing foreign exchange business, before joining blockchain startup Ripple in 2017.
As Binance.US will grow, it is planned that it will serve as an innovative, affordable and approachable venue for users to buy, sell and hold digital assets within the U.S., including an easy-to-use fiat on-ramp.
Also, as part of its US launch, Binance partnered with BAM Trading Services, a little-known Californian-registered firm. to “serve the U.S. market in full regulatory compliance” as it was noted by Binance CEO CZ last month.