CZ Expects Binance US to Launch ‘In a Month or Two’

Siamak Masnavi

Changpeng Zhao (aka "CZ"), Co-Founder and CEO of Binance, said in an interview published on Thursday (August 15) that he expects Binance US to launch within a couple of months.

CZ's comments about Binance US came during an interview with Cheddar reporter Tanaya Macheel.

Macheel started the interview by asking CZ why Binance wanted to launch in the U.S. given the regulatory difficulties over there. CZ replied:

U.S. has always been an important market... Globally, one of the biggest markets for any business... So, we're very glad that we have a partner [BAM Trading Services] there... so they can help us navigate the regulatory compliance issues.

When asked about the launch date for Binance US, he replied that although he did not want to give a specific date, but he did say:

There's a lot of work being done, and there's a lot of things going on in flux, but I would say in a month or two.

As for the long-suffering residents of the state of New York, CZ said that initially Binance US would not be available to them since their U.S. partner (the FinCEN-regulated BAM Trading Services) does not have a BitLicense from New York State Department of Financial Services (NYDFS).

Binance first announced its partnership with BAM on June 14:

Binance will license its cutting-edge matching engine and wallet technologies to its US partner BAM to launch Binance.US, acknowledged by its recently approved FinCEN registration on June 11, 2019.

On August 9, Ripple executive Catherine Coley, who is the CEO of Binance US, published a blog post, which provided an update on the work being done to prepare for the launch of Binance US. 

These were the highlights of Coley's post:

  • During the past few months, the Binance US team has been "heads down, focused on developing for you a tailor-made platform to access cryptocurrencies in the United States."
  • Binance US is using a "Digital Asset Risk Assessment Framework" to choose blockchain projects that have "a real chance of making the world more efficient" and that are compliant with "applicable legal requirements."
  • Her team is evaluating 30 coins/tokens against this framework: ADA, ATOM, BAT, BCHABC, BNB, BTC, DASH, EOS, ETC, ETH, HOT, IOTA, LINK, LOOM, LTC, MANA, NANO, NEO, PAX, REP, RVN, TUSD, USDC, USDT, VET, WAVES, XLM, XRP, ZIL, ZRX.

Finally, in related Binance news, the exchange announced earlier today that the Binance app for iOS is once again available at the iOS App Store:

 

Featured Image Courtesy of Binance