Binance to launch US exchange
Binance.US should launch within the next few weeks
It looks like Binance has decided that it doesn’t want to miss out on the large potential of the cryptocurrency market available in the US. The company announced last Friday that it is preparing to launch a crypto exchange within the next couple of weeks, provided it gets enough regulatory support to make the endeavor worthwhile.
The company states in last Friday’s press release, which it published in a Medium post, “KYC (know your customer) will be required for trading on Binance.US. Setting up a new account will require 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. We are finalizing the list of states where we will start to roll out service to users and will release this list before we begin onboarding customers.”
It adds that it will launch the KYC onboarding process a few days before the platform goes live in order to give users a chance to properly register. Once that process is complete, users will be able to start making crypto deposits in anticipation of the full launch.
Initially, the platform will only be available for desktop and mobile access. However, Binance expects to roll out a version for both iOS and Android sometime in the future. Most likely, that will happen once the exchange sees whether or not there’s enough interest.
Binance announced in June that it was being forced to pull out of the US effective this month. The move left a lot of US-based enthusiasts in a lurch, not knowing where to turn to be able to participate in trading.
Ensuring that the exchange meets the requisite obligations will allow it to continue and take on other trading platforms such as Coinbase, Kraken and Poloniex.