Changpeng Zhao, the well-known CEO of the massively popular Binance platform has recently just revealed his plans to open a new branch of the firm in the United States. This is a huge feat for the firm and will also mark the first Binance exchange set up in the country.
Whereas no exact date has been revealed for when the branch will launch, Binance has revealed that it will be over the next few weeks. It isn’t yet known about how many states will benefit from the new exchange however, binance says it's still in the works and that it intends to cover a good amount of the nation.
In a Medium post, Binance.US said:
“Binance.US is a fast, compliant, and secure digital asset marketplace. As a local partner of the global Binance ecosystem, we bring the best-in-class technology, speed, and execution of Binance to everyday users in the United States.”
Catherine Coley is the CEO of the US side of the platform and went onto Twitter to update users on the main features that will precede its launch.
“As we approach the launch of Binance US, we want to outline a few key items to help you prepare for trading on our marketplace.”
The blog post went onto highlight what users will need for registering on the US exchange.
“KYC (know your customer) will be required for trading on Binance.US. Setting up a new account will require a valid government ID (driver’s license or passport) and social security number (SSN) to register for access to the Binance.US marketplace, available in most U.S. states. We are finalizing the list of states where we will start to roll out service to users and will release this list before we begin onboarding customers.”
It will be interesting to see how this plays out. This is a huge milestone for crypto and the platform especially as it just released its own stable coin called Binance USD a few days ago.