SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Binance / BNB
BNB 17.27-5.0%9:11 PM EST

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Glenn Petersen9/23/2019 11:52:56 AM
1 Recommendation

Recommended By
zax

   of 45
 
Binance Makes Its U.S. Move

September 23, 2019
Ryan Duffy Emerging Tech Writer

This morning, Binance.US launched a digital assets marketplace. As you've probably guessed, it's the U.S. arm of Binance, the world's top crypto exchange by trading volume. BAM Trading Services operates Binance.US, which licenses Binance's trading and wallet tech.

The details: Binance.US launched account registration on Sept. 18. To receive verification, users must give their government-issued ID and social security number and pass know-your-customer checks. Trading for verified Binance.US users begins tomorrow at 9 AM ET.

The exchange supports fiat-to-crypto and crypto-to-crypto trading. Initially, Binance.US is listing bitcoin (BTC), Binance's native token BNB, ethereum (ETH), Ripple's XRP, bitcoin cash (BCH), litecoin (LTC), and tether (USDT). It supports deposits for five more assets and is considering listing an additional 17.

Binance's global riseBinance has built its brand by listing more digital assets than the competition and focusing on crypto-to-crypto trading. In a press release, Binance CEO Changpeng Zhao (better known as CZ) said Binance.US will "open a new key gateway" into the U.S. market.

But it's entering a crowded field.

A big competitor is Coinbase, which has focused on compliance first and expansion of services, supported assets, and trading options second. By comparison, Binance has played regulatory hopscotch and targeted its product to seasoned traders. But it's been embracing compliance to curry favor with institutional buyers and expand to new markets.

To jumpstart onboarding, Binance.US is offering free trades until November 1 and a $15 r eferral bonus for each new signup. It's also hoping to bank on Binance's worldwide recognition and tech chops to draw in new users.

But the roll-out is limited. Though Binance.US has the approval of most regulators, it's not available in 12 states, including New York, Texas, and Florida.

morningbrew.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext