BLOCKCHAIN
BLOCKCHAIN
BLOCKCHAIN
Binance expands US services and support thanks to strong growth
The dedicated foray by Binance, the world’s largest cryptocurrency exchange, into the U.S. market is going well as the company said today that its Binance.US operation is increasing volumes and it announced support for debit cards.
Binance entered the U.S. market with a dedicated service Sept. 24 with a platform that offered American citizens no-fee trading. Binance had previously served the U.S. market through its global service but had been forced to withdraw services to American citizens because of regulatory issues.
In its first 30 days since launch, Binance.US has grown to $15 million in daily trading volume and has increased the number of tokens it supports from seven to 24, with U.S. users now having access to 40 trading pairs.
Starting today, Binance.US is also adding support for debit card payments to purchase cryptocurrencies. Previous options, which remain ongoing include Automated Clearing House and bank wire transfers. In addition, Binance.US has increased its automated clearinghouse limits for U.S. dollar deposits and withdrawals. After a cap of a maximum of $5,000 for initial deposits, Binance.US users will now be able to deposit up to $30,000 per transfer.
In a bonus for U.S. customers, deposits via Binance.US also now come with Federal Deposit Insurance Corporation insurance coverage of up to $250,000.
Binance.US is currently available in 37 states and Puerto Rico and the company is seeking licenses in the remaining states to offer services across the entire U.S. market.
“We want our marketplace to stand out as an easily accessible, educational platform for anyone looking to participate in this global movement,” Binance.US Chief Executive Officer Catherine Coley said in a statement. “Crypto-literacy can offer Americans the opportunity to unlock new financial freedoms across a global ecosystem.”
While not saying exactly what’s planned next, Coley added that Binance.US would continue to expand its roadmap in the coming months. That roadmap is likely to include support for Venus, Binance’s proposed stablecoin project that’s aimed at taking on Facebook Inc.’s Libra.
Image: 149561324@N03/Flickr
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