On Wednesday (September 11), Catherine Coley, the CEO of Binance.US, Binance’s upcoming trading platform for its customers in the U.S., announced that user registration will be open on September 18, and that from this date it will be possible to deposit funds (BTC, ETH, XRP, BCH, LTC, and USDT).
As Coindesk reported on June 13, Binance announced on that day that it was planning to set up Binance.US in partnership with a U.S. company called BAM Trading Services (“BAM”). It said that the operator of this platform would be BAM, but the wallet and matching engine would be supplied by Binance.
Then, on August 9, Coley published a blog post to provide an update on the work being done to prepare for the launch of Binance US. One of the things she mentioned was that Binance US was 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.”
Coley also noted that her team was 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, and ZRX.
On September 6, the Binance.US CEO published another blog post in which she provided some new information about her company.
Here were some of the main highlights:
- There is a “Know Your Customer” (KYC) process in place when registering a new account. Users will need to provide a valid state/federal ID (such as a passport or a driving license) and their social security number.
- Binance.US will be available in most U.S. states (but this list will probably not include New York state at launch).
- Users can deposit funds as soon as they have gone through the KYC process.
- Access to the exchange will initially be via the Binance.US website; later on, a mobile app (for iOS and Android) will be provided.
Well, today, we had another important announcement from Coley, this time telling us which digital assets Binance.US has chosen to support initially and the date (September 18) that user account registration will be open.
In her blog post, Coley explained that during this “initial registration phase,” it will be possible to “sign up for a Binance.US account and select the tier of verification required to achieve your desired withdrawal limits,” and that once a user has been verified, it will be possible to “make deposits across the initial selection of digital assets.” The list of supported trading pairs will be announced shortly after registration opens.
If you are disappointed that your favorite cryptoassets are not included in the list of assets initially supported by Binance.US, do not worry too much since Coley assures us that the exchange “will be continually adding to the selection of digital assets available for verified users to deposit and eventually trade on Binance.US.”
Note that “verifying your account in this initial phase will allow you to trade on our digital asset marketplace as soon as trading commences.
Featured Image Courtesy of Binance.US