Former Ripple executive Catherine Coley has been appointed as chief executive of BAM Trading Services, which will operate the soon-to-be-launched Binance.US digital marketplace.
Partnered with Malta-based Binance, the world’s biggest cryptocurrency exchange, BAM will operate the new fiat-to-crypto exchange after Binance stops providing trading services to the US in September.
US Compliant
Binance.US will be a fully regulatory-compliant digital marketplace especially tailored for US securities and market laws, but no official launch date has yet been suggested on its website, and it will be Coley’s role to oversee the launch.
BAM, a little-known California-registered company, was announced as Binance's partner on the Binance.US launch on June 14, and said at the time:
Binance.US will be built on cutting-edge matching engine and wallet technologies licensed from Binance. We look forward to serving the US market in full compliance.
Neither company, however, has said anything about how Binance.US has – or will – achieve compliance with the US regulatory framework for crypto-asset trading by the time of launch.
Unlocking Potential
Having previously worked for Silicon Valley Bank and Morgan Stanley, Coley joined Ripple’s global liquidity management team in 2017, playing an “integral role in the evolution of trading infrastructure and market development”, according to BAM's announcement on Medium
She said:
I am honored to lead BAM and bring Binance.US to North America. This is just the beginning of a long journey ahead, and I look forward to working with Binance as a partner to unlock more potential for the blockchain ecosystem here in the US.
Changpeng Zhao, known more commonly in the cryptoverse simply as CZ commented on the appointment of Coley:
I am honored to lead BAM and bring Binance.US to North America. This is just the beginning of a long journey ahead, and I look forward to working with Binance as a partner to unlock more potential for the blockchain ecosystem here in the US.
