The number one Cryptocurrency Exchange by trading volume, Binance, is all set to cater to the crypto traders based in the United States. As per the latest official Medium blog post by Binance’s US division, dated 6th September 2019, the new dedicated Binance.US marketplace is going to be unveiled in the next few weeks. This official post is authored by Binance US’s CEO Catherine Coley.
Divulging more insights into the development, the blog post revealed that this new marketplace would thoroughly comply with the stringent crypto regulations of the United States. Users will need to complete the Know Your Customer (KYC) procedure to begin trading on the Binance.US platform.
Apart from that, the new account set-up will require users to furnish their valid government identification, such as a passport or a driver’s license, and SSN (social security number) as part of registering on the marketplace. The KYC onboarding process will begin a few days ahead of the live trading to provide users with ample time to get their account details verified. Once, the KYC is completed, it will be possible for users to begin depositing their crypto funds.
The firm is yet to announce the states where these services will be rolled out, although, it is going to be available in a majority of US states, highlights the official blog. The states’ list will be released before the firm starts onboarding consumers.
Moreover, the firm has not yet revealed which digital currencies will be made available for trading on its US marketplace. However, we must note that Binance had released a list of 30 possible assets that it planned to list in August.
Initially, Binance US will be accessible through desktop and mobile web. Its dedicated application will be launched in the future, stated the exchange.