Crypto Exchange Binance Launches Binance.US With A New Batch Of Assets

September 26, 2019 / by Crypto.IQ

Crypto exchange Binance will launch its US asset market place called Binance.US on September 24th. It will replace access to Binance.com as US regulators begin to track and limit some digital coins.

Binance.US lists new assets

BAM Trading Services will operate the digital asset marketplace that comes with a new set of tokens from leading cryptocurrency-based projects. Listed digital assets include Bitcoin (BTC), Tether (USDT), Ethereum (ETH), Litecoin (LTC), Binance Coin (BNB), XRP, and Bitcoin Cash (BCH). Deposits have also opened for more assets such as Cardano (ADA), Basic Attention Token (BAT), Stellar (XLM), 0x (ZRX), and Ethereum Classic (ETC). Other digital assets under review for listing include Dash, Cosmos (ATOM), Loom Network (LOOM), EOS, IOTA, Holochain (HOT), NEO, NANO, Paxos Standard (PAX), Ravencoin (RVN), USD Coin (USDC), Zilliqa (ZIL),  and Waves.

Trading went live today at 9.00 am EST. To attract new users on the platform, Binance.US will be offering free trades up to November plus $15 referral bonus for every new signup.

The marketplace will boost the position of Binance Coin (BNB), which is also one of the added assets. It appears that Binance does not have concerns about BNB being an unregistered security. BNB is yet to receive a boost after its price dipped to $19.57.

Waning interest in altcoins

Binance.US’s launch comes at a time the market is experiencing a declining interest in altcoins. Bitcoin prices have also been on the slump. 

The exchange has opened doors to more regulatory oversight and the possible backlash from the whole crypto industry. The exchange is not partnering with a banking partner but will rather enlist the services of Prime Trust. This is an entity committed to blockchain project finance as well as side services. This might be worrying for traders because it resembles the model employed by Bitfinex to choose Crypto Capital for their financial needs.

In a bid to avoid local regulatory issues, Binance.US will exclude 13 states. The states include Alaska, Alabama, Georgia, Connecticut, Texas, Florida, Vermont, North Carolina, Idaho, New York, Louisiana, Washington, and Hawaii.