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.
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.