Binance US, the American arm of the world’s largest cryptocurrency exchange, is now live. The exchange launched on September 24 with support for trading pairs with the U.
S. dollar (USD) and tether (USDT).
Binance US is a digital asset marketplace, providing advanced financial services to traders globally by using blockchain technology. Binance US is operated by BAM Trading Services Inc.
, a money services business registered with FinCEN.
The platform will initially offer trading in three pairs: BTC/USD, ETH/USD, and USDT/USD. The exchange will roll out more pairs as it receives approval from regulators.
Binance US is built on the same technology that powers Binance’s existing exchanges, which handle more than $1 billion in trades daily. The platform uses an elastic multi-stage matching engine that can process up to 1.
4 million orders per second.
The exchange also features a robust risk management system that includes real-time fraud detection, anti-money laundering (AML) controls, and Know Your Customer (KYC) processes.
Binance US will offer a mobile app for iOS and Android devices, as well as a web-based interface. The exchange will also support popular wallets such as MetaMask, Trust Wallet, and Ledger Nano S.
Binance US is currently available in 42 states and Washington D.C.
, with plans to expand to more jurisdictions in the future. The exchange has plans to launch a fiat-to-crypto onramp in partnership with Simplex, which will allow customers to purchase cryptocurrencies using credit and debit cards.
So far, Binance US appears to be off to a good start. The platform has seen strong demand from users since its launch, with trading volumes surpassing $10 million within the first few hours of operation.
The exchange also had no issues with liquidity or order execution during its first day of trading.
Overall, Binance US seems like a promising option for U.S.
-based cryptocurrency traders. The platform has all the same features as its international counterpart but is subject to stricter regulations, which should provide some peace of mind for users who are concerned about security and compliance issues.