Binance To Open Registration and Deposits

Binance.US, the arm of Binance, announced its soon-to-happen trading of fiat-crypto and crypto-crypto. And the said platform will list at least seven cryptocurrencies right away upon the launch. And some of the listed cryptos are bitcoin, bitcoin cash, Binance coin, ethereum, XRP, litecoin, and Tether’s USDT.

On the other hand, the platform’s deposits will soon be available for another five assets, namely, Cardano, basic attention token, ethereum classic, and stellar’s XLM and Ox.

With no official date of launch, the new exchange began to open registration and deposits. And in the upcoming weeks, the platform will roll out other cryptocurrencies, which will meet U.S. regulations and compliance standards based on its Digital Asset Risk Assessment Framework.

Aside from that, users for the new exchange will get a $15 referral bonus until November 1. According to Binance.US CEO Catherine Coley, users with deposits in the platform will not see their funds automatically transferred to the U.S. platform.

In June, initially launched in China, the now Malta-based Binance disclosed that they barred the stateside users of its global platform Binance.com from trading.

Moreover, 13 states did not give their support to the new platform.

Expansion of Binance

Meanwhile, the move of Binance is also a part of its plan to have a larger development. The firm launched a fiat-to-crypto exchange on the island of Jersey.

Furthermore, the exchange provides to traders in Europe, and the U.K. And its users can trade ethereum and bitcoin against the British Pound and the euro.

Then, the Jersey arm listed the crypto exchange’s British pound-backed stablecoin Binance GBP (BGBP). And it offered on the fiat-to-crypto platform due to trader demand for more options of stablecoin.

Above all, the firm has also tried to improve more its U.S. dollar-backed stablecoin. And it aims to pose this as a possible rival of Libra. The NYDFS (New York Department of Financial Services) approved the BUSD.