Cryptocurrency exchange Binance is set to launch cryptocurrency trading platform in the U.S. as Binance.US in the coming weeks. It will begin onboarding customers a few days ahead of the live trading with Know Your Customer (KYC) registrations.
Binance announced its partnership with U.S.-based BAM Trading Services Inc. in mid-June to launch Binance.US.
Binance.US operations will be led by local FinCEN-registered US partner BAM, which will provide a secure and compliant platform to serve the U.S. market. Binance will license its matching engine and wallet technologies to its US partner BAM.
To set up a new account, users will have to complete the KYC onboarding process with 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.
Binance.US will initially provide desktop/mobile web access and is looking to develop an app version for iOS or Android in the future.
In early July, Binance.US operator BAM Trading also announced the appointment of former Ripple executive Catherine Coley to lead the Binance.US operations as chief executive officer of BAM. She most recently served as Head of XRP Institutional Liquidity at Ripple.
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