Binance’s US Subsidiary Is Weighing 30 Different Cryptos For Listing
Binance, the world’s largest cryptocurrency exchange by trading volume, has said that it is considering 30 potential cryptocurrencies and digital assets for its forthcoming U.S. subsidiary.
According to a Medium post published August 9, Binance US — a “tailor-made platform to access cryptocurrencies in the United States” — has adopted a Digital Asset Risk Assessment Framework to meet compliance requirements of the country.
This follows a move by the Malta-based exchange to deny U.S. citizens access to its primary trading platform in June, a day after announcing a partnership with BAM Trading Services to formally enter the U.S. market.
The company writes:
“Binance US strives to be a reliable and efficient marketplace for a rich selection of high-quality digital assets, so that our users can be part of the open and competitive market that discovers projects with true utility.”
To that end, the company also announced it is examining 30 crypto assets to launch on its U.S. platform. These include the top market cap cryptos like BTC, ETH, and LTC, as well as its own BNB token, among others.
As previously reported, BAM Trading Services will operate the U.S. platform, which is overlaid on Binance’s wallet and matching engine technologies. The exchange aims to bolster its compliance and security practices through partnerships with the software provider Chainalysis and KYC/AML tool provider IdentityMind.
In July, Binance expanded its ecosystem by launching an exchange in Singapore.
Binance still has not set out a formal timetable for the launch of its U.S. subsidiary.
CZ Binance photo courtesy of Binance