The U.S. arm of Binance has not only achieved an incredibly daily trading volume but also has increased token listings from 7 to 24 tokens.
In September, one of the world’s most popular cryptocurrency exchanges Binance launched its U.S. arm, initially allowing U.S0. citizens to trade 13 cryptocurrency pairs across Bitcoin (BTC), Bitcoin cash (BCH), Binance Coin (BNB), Ether (ETH), Litecoin (LTC), XRP, and the Tether stablecoin (USDT). Since the launch, only one month has passed, but Binance.US has already demonstrated incredible results: its daily trading volume has exceeded $15 million.
Besides, the U.S. arm of Binance has increased token listings from 7 to 24 tokens, which means that US citizens now have access to 40 trading pairs. Among the cryptos available are Bitcoin (BTC), BNB, Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT), Algorand (ALGO), Basic Attention Token (BAT), Binance USD (BUSD), Cardano (ADA), Chainlink (LINK), Dash (DASH), Dogecoin (DOGE), Ethereum Classic (ETC), IOTA (IOTA), Ravencoin (RVN), Stellar (XLM), Waves (WAVES), Zcash (ZEC), and 0x (ZRX). Recently, Binance.US added support for NEO (NEO) and ATOM (ATOM).
— Binance.US (@BinanceAmerica) November 1, 2019
Another achievement of Binance.US during the first month of functioning is expanding geographically. Currently, the exchange provides services in 37 states and Puerto Rico. In the nearest future, Binance.US is planning to get licenses to get access to the rest of the United States.
Binance.US CEO Catherine Coley stated:
“This is just the beginning. We want our marketplace to stand out as an easily accessible, educational platform for anyone looking to participate in this global movement.”
“Binance.US is excited to foster these opportunities as a marketplace tailored by and to the needs of U.S. users. Whether you’re converting your first dollar into bitcoin, or running your business through our platform, we’ve standardized globally-validated technology to offer a secure, easy-access marketplace with a wider range of digital assets and personalized customer support to put agency in the hands of the user”, the CEO added.
Debit Card Payments on Binance.US
Starting today, Binance.US users can use debit cards to purchase cryptos and join existing USD on-ramp and off-ramps, including ACH and bank wire.
Until today, Binance.US required zero fees. Now, traders can start using BNB to pay for trading fees and receive a discount on further purchases.
Earlier, Binance.US increased its ACH (Automated Clearing House) limits for USD deposits and withdrawals, allowing US users to send up to $5,000 through their initial ACH deposit. After this initial amount is cleared, ACH limits for the depositor will increase to $30,000. USD deposits or USD withdrawals made via ACH are not levied with fees, which makes access to digital assets through USD much easier.
As for the further plans of Binance, the exchange is planning to turn a blind eye to China’s new push and open an office in Beijing. It is not clear when the office will be opened, but the Binance top management is working on improving the relationship with Chinese authorities.