Binance, the world’s largest cryptocurrency exchange by traded value, has partnered with Prime Trust, a US-based custodian, to offer “crypto-native” banking services. The move is part of Binance’s push to expand its operations in the United States and comply with regulations.
Prime Trust is a regulated financial institution that provides custody, compliance, and escrow services for digital assets. The partnership will allow Binance to offer USD fiat onramp and offramp services through Prime Trust’s banking network.
Binance US users will also be able to store their digital assets with Prime Trust.
NOTE: Warning: Binance does not currently use Prime Trust for its services. Therefore, users should exercise caution when considering any services provided by Prime Trust in relation to their Binance accounts. Users should also be aware of the potential risks associated with using third-party services and should take appropriate measures to protect their account and personal information.
The partnership is a major boost for Binance, which has been facing regulatory hurdles in the US. In July, the New York Attorney General’s office filed a lAWSuit against Binance, alleging that the exchange had violated New York state lAWS by offering unlicensed trading services.
Binance has since stopped serving customers in New York.
With Prime Trust, Binance can offer compliant USD fiat on- and off-ramps as well as storage services to its US users. The partnership is a positive step for Binance as it looks to expand its operations in the United States.
9 Related Question Answers Found
Binance US, the American subsidiary of the world’s largest cryptocurrency exchange, has partnered with Prime Trust, a US-based financial institution, to provide custodial services for its customers. The move comes as Binance looks to expand its operations in the US, where it currently offers trading in a limited number of digital assets. Under the partnership, Prime Trust will provide custodial services for Binance US customers, meaning that it will hold and protect their digital assets.
Binance, one of the world’s leading cryptocurrency exchanges, does in fact use Prime Trust LLC to custody its users’ assets. Prime Trust is a qualified custodian that is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Binance has chosen to use Prime Trust because of its high-security standards, cold storage capabilities, and insurance coverage.
Prime Trust is a US-based custodian and depository institution that is licensed to provide custody and related services for digital assets. Prime Trust has been operational since 2018 and is one of the most popular choices for those looking for a digital asset custodian. Binance is a digital asset exchange that allows users to trade cryptocurrencies.
Binance US, the American dollar-denominated arm of the world’s largest cryptocurrency exchange by volume, has selected Prime Trust LLC as its exclusive provider of custodial services. This is a big deal because it’s the first time that Binance, which is headquartered in Malta but has offices all over the world, has chosen to work with a US-based partner for its custodial needs. Up until now, Binance has used partners like Coinbase and Xapo for its custodial services.
Binance Prime Trust is a provider of digital asset custody, lending, and other financial services for institutional investors. The company was founded in 2017 by Changpeng “CZ” Zhao and Yi “Linda” He. Binance Prime Trust is headquartered in Singapore.
Binance is a cryptocurrency exchange that launched in 2017. The company is based in Malta and has offices in Singapore, Taiwan, and Japan. Binance is the world’s largest cryptocurrency exchange with a daily trading volume of over $2 billion.
Binance is the world’s largest cryptocurrency exchange, with over $1 billion in daily trading volume. It is also one of the most popular exchanges, with millions of users worldwide. So, is Binance trustworthy?
Binance, one of the world’s largest cryptocurrency exchanges, does not own Trust Wallet, a popular mobile cryptocurrency wallet. However, Binance has invested in Trust Wallet and integrated it into the Binance platform to provide a seamless experience for users. Trust Wallet was founded in 2017 with the goal of providing a secure and easy-to-use crypto wallet for users.
Binance, one of the world’s largest cryptocurrency exchanges, does not currently offer trading in BTC/USD, the most popular crypto-to-fiat currency pair. The exchange does offer a number of other crypto-to-fiat pairs, including BTC/USDT (tether), BTC/EUR, and BTC/JPY. Binance is primarily a cryptocurrency-to-cryptocurrency exchange, meaning that it doesn’t offer trading in fiat currencies like USD or EUR.
