Binance wants to launch in the US before November
According to cryptocurrency experts and enthusiasts around the world, Binance is the largest
cryptocurrency exchange in the world. Moreover, if the trading volume is taken into
consideration, Binance is on the pinnacle of success. However, being a top-notch platform is
not enough for the massive cryptocurrency exchange platform. As of now, the cryptocurrency
exchange platform is going to launch a subsidiary in the United States of America.
The sources are suggesting the Binance is going to introduce its subsidiary, which is based in
the US. In addition to this, the latest reports claim that Binance wants to make this happen
before 2019 November comes to an end. The new update concerning a subsidiary in the US
began after Changpeng Zhao, the CEO of Binanace’s recent interview.
Changpeng Zhao is extremely popular across the world, but he is popularly known as CZ
because of his Twitter account. Recently, CZ did come up with a revelation by stating that he
is going to partner with BAM Trading. Judging by the location of the trading firm, CZ wants
to make a stronghold across the US. In addition to this, BAM Trading is keeping tabs on
Binance. Moreover, it is also overseeing the launch of the US edition of the exchange
What is the endgame of Binance in this scenario?
The cryptocurrency exchange platform wants to help the overall industry to catch up with
regulatory compliance. So far, it is a factor which put off a significant amount of
cryptocurrency projects. Also, this is the reason as to why the cryptocurrency projects are not
able to target the massive market.
Changpeng Zhao is exceptionally optimistic when it comes to fulfilling the regulatory needs.
He also says that the requirement can be met easily in just two months. However, even the
leader is quite hesitant to provide a precise time for conducting the launch of the exchange.
Binance US will certainly come into being in a couple of months.
Zhao also said that the firm is yet to receive, the BitLicense, which is very important to
conduct cryptocurrency exchange. The Financial Department Services of New York are in
charge of issuing the license to exchange cryptocurrency easily. Even if Binance creates a
stronghold in the US, it cannot help the residents of New York, initially. Given that the NYC
subsidiary would come into being in November 2019, Binance would still have to wait.
Binance also considers the present-day exchange cuts
The CEO of Binance said that after stability comes into being in the US’ exchange cut,
Binance US would go live. Moreover, the people who want to use Binance’s platform to
exchange cryptocurrency would’ve to visit the official website.
Back in July 2019, Coinfomania said that the Binance which is located in Malta would allow
the geo-block users on the 12th of September 2019. Furthermore, Binance is also going to
have to meet compliance in the region. It is extremely tough to get approval from the
As of now, Binance is evaluating around 30 different cryptocurrencies in terms of a potential
listing on its platform. People can hold as many cryptocurrency and digital assets they want
to via Binance.