Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.
The U.S. branch of Binance is exploring the potential of such cryptos as Tezos (XTZ), Komodo (KMD), TRON (TRX), NEM (XEM), OmiseGo (OMG), Ontology (ONT), Icon (ICX), and Enjin Coin (ENJ).
The U.S. branch of the global digital exchange Binance is on the threshold of considerable expansion: 18 new tokens are currently being considered to be added to the platform.
25 tokens listed. 18 new possibilities. https://t.co/q5F1b93EzS
— CZ Binance (@cz_binance) December 11, 2019
Binance.US was established as a local partner of the global Binance ecosystem with a view to bringing the best-in-class technology, speed, and execution of Binance to everyday users in the United States. Launched in September 2019 and run by BAM Trading Services from San Francisco, California, Binance.US provides a fast, secure and reliable platform for trading digital currencies. Starting from November 1st, Binance.US charges no commissions for trading from its users.
Binance.US allows trading USD fiat pairs and already supports 24 types of cryptocurrencies. Among the tokens listed on the platform are Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), Bitcoin Cash (BCH), Tether’s USDT, Binance Coin (BNB), and more. The latest tokens to be added were Chainlink (LINK), Ravencoin (RVN), NEO (NEO) and ATOM (ATOM).
Currently, the U.S. branch of Binance is exploring the potential of such cryptos as Tezos (XTZ), Komodo (KMD), TRON (TRX), NEM (XEM), OmiseGo (OMG), Ontology (ONT), Icon (ICX), and Enjin Coin (ENJ). Some of the coins mulled over are quite shady as their status of securities has not been confirmed by the U.S. Securities and Exchange Commission (SEC).
“Our priority to continue exploring more digital asset listings for our users runs in parallel to our efforts to deliver a mobile application and more access to new states we currently do not operate. Binance.US recognizes that the ease of issuing blockchain tokens and the perceived lack of regulation could make these tokens targets for abuse. Binance.US has both legal obligations and moral duties to shield our users from fraudulent blockchain projects and combat financial crimes.”
It is notable that Binance.US is expanding while other exchanges are suffering decreased trading volumes. For this reason, the U.S. arm of Huobi is winding up its activity, which opens the way for Binance.US. As we have reported, Huobi faced some challenges in the U.S. market. In November, it started to disable U.S. accounts, prevent trading and transfer with the U.S. users advised to return their borrowed funds from margin trading. Also, users were encouraged to withdraw all assets from the platform.
Binance.US Rapidly Gains Traction
Launched in September this year, Binance.US has managed to rapidly grow and gin up its popularity. One month was enough for the platform to set the wheels in its motion and achieve an incredible daily trading volume that has exceeded $15 million. Currently, Binance.US is operating in 37 states and is not going to stop at this. In the nearest future, Binance.US is planning to get licenses to get access to the rest of the United States.
The U.S. branch of Binance turned out to be a justified risk. In the nearest future, the exchange is planning to set up an office in Beijing, the capital city of China. It already has one office in Shanghai, and when a new one is launched in Beijing, Binance can be proud of being a promoter of cryptos in China.