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Binance Launches US Division Assisted by FinCEN-Registered Partner

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Fri, 06/14/2019 - 08:00
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Yuri Molchan
Binance, the world’s most influential crypto exchange, founded by Changpeng Zhao, is about to enter the US market and has found a local partner for it
Binance Launches US Division Assisted by FinCEN-Registered Partner
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A day ago, Binance spread the word on its blog that it plans to set up a division specially targeted at American clients – Binance US. For this purpose, the exchange has teamed up with BAM Trading Services.

Binance to set foot on US virtual ground

This is going to be merely a formal entrance, since Binance services are already available for US customers. But now the platform is going to expand its American audience by creating a trading venue that would fully comply with US regulations.

Binance is entrusting BAM to run its new division, however, the time of the release has not been announced.

On the Binance blog, CZ, the founder, stated that the team of the exchange and himself are happy to finally start official collaboration with US users and to give US customers secure trading and liquidity provided by Binance to the US.

https://www.binance.us/
https://www.binance.us/
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Binance’s new US partner

BAM Trading is registered with FinCEN, a US-based organization for fighting crimes in the financial sphere and working under US Treasury supervision. BAM is based in California.

As per CoinDesk, BAM is only allowed to carry out operations in California.

BAM Trading seems to be a partner of Koi Compliance, an organization under OTC crypto trading firm Koi Trading. CoinDesk reports that in late January this year, Binance invested about $3 mln in Koi Trading.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.