- Binance.US opens registration of user accounts to prepare for live trading
- Deposits will be allowed for 6 crypto assets initially
- The company is yet to name trading pair allocations
The United States’ branch of Binance cryptocurrency exchange will begin registration of user accounts on September 18, 2019, at 08:00 hrs. Eastern Time. The registration for interested traders begins early to enable the launching of live trading.
Initially Allow Depositing Of Six Crypto Assets
The announcement was made through the official Binance. US Medium blog post on Wednesday, September 11, 2019, and was signed by the CEO Catherin Coley. According to the announcement, the exchange will initially allow depositing of six crypto assets including Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin while support for other cryptocurrencies will be added later. Binance.US explained in the blog post:
“During this initial registration phase, you will be able to sign up for a Binance. US account and select the tier of verification required to achieve your desired withdrawal limits. Once verified, you will be able to make deposits across the initial selection of digital assets. Shortly after registration opens, we will provide an update detailing when trading will go live for specific pairs.”
Steer It to Further Future Progress
Binance is a leading cryptocurrency offering a plethora of products. The firm recently launched lending and margin trading of cryptocurrencies and its inclusion in the world’s leading economy is likely to steer it to further future progress. It was expected that the addition of cryptocurrencies for the initial launch would be a rigorous exercise thanks to the regulatory hiccups being experienced in many parts of the United States.
The company did not name the start date of trading pair allocations but it is expected that it will happen soon as Binance said “shortly after registration opens, we will provide an update detailing.” Commenting, Binance CEO Changpeng Zhao (CZ) tweeted:
Sometimes a small step back is required to move forward again.
(couldn't find a crouching tiger meme… damn) https://t.co/wjS6T0nxAy
— CZ Binance (@cz_binance) September 12, 2019
A New Wing for Its US Operations
Many cryptocurrency exchanges have had to delist many digital assets in the past for their United States-based customers and regulatory inclusion may be the reason Binance may have opened a new wing for its US operations. They have opened the separate wing in partnership with San Francisco-based Bam Trading Services for licensing the pricing and wallet from Binance.
While Binance hasn’t said which states will benefit from their launch, it is expected that the list could exclude New York where most other exchanges are prohibited. However, things could change as Binance’s dollar-backed Stablecoin was approved by NYDFS and only time will tell whether a launch in New York can be expected with the limited tokens.