Binance US is already registering $15 million in daily trading volume just one month after launching.
The Malta-based cryptocurrency exchange has seemingly managed to get a foothold in the US after experiencing impressive and quick growth.
The exchange is now looking to build on this foundation by listing more assets and aims to eventually be available in all 50 states.
Binance US to launch debit card payments
Binance US has had a busy month. Apart from steadily (and quickly) increasing daily trading volume, the digital asset marketplace has increased token listings from seven to 24. Moreover, starting November 1, US users will now be able to purchase cryptocurrencies using debit cards.
What a week @BinanceAmerica 🇺🇸:
1. @BinanceAmerica listed $BUSD, $IOTA, and $DOGE
2. Increased ACH limits (no fees on ACH USD deposits or withdrawals)
3. Broke new records for daily trading volume! 💛🖤💛 pic.twitter.com/qGVnI06PA2— Binance.US 🇺🇸 (@BinanceUS) October 27, 2019
CEO of Binance US Catherine Coley commented: “This is just the beginning. We want our marketplace to stand out as an easily accessible, educational platform for anyone looking to participate in this global movement.”
Among some of the digital assets that US customers can buy are currently Bitcoin (BTC), Ether (ETH), Tether (USDT), Stellar (XML), and Zcash (ZEC). Binance US has also increased its ACH (Automated Clearing House) limits for deposits and withdrawals to $30,000 with no fees on deposits or withdrawals in USD.
Binance US is also issuing FDIC insurance coverage for USD deposits. They are pooled in multiple accounts at different banks that are insured by the FDIC for as much as $250,000.
“Crypto-literacy can offer Americans the opportunity to unlock new financial freedoms across a global ecosystem,” Coley explained.
“Beyond a means of asset exchange, Binance US aims to help users access, evolve, and be in control of their own personal wealth.”
Binance US isn’t available to all American citizens. Currently, the exchange services 37 states, as well as Puerto Rico. However, the plan is to seek the necessary licenses to operate in all 50 states.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.