Binance.com Prepares to Block US Customers As Former Ripple Executive Takes Charge of Binance.US
The leading crypto exchange Binance has locked in September 12th as the last day it will serve US customers. From that point forward, users in all 50 states will no longer be able to trade on Binance.com, but will still be allowed to withdraw their digital assets.
Meanwhile, Binance has partnered with a firm called BAM Trading Services, which will operate its new trading platform dedicated to the US market.
The new platform is called Binance.US, but so far, Binance CEO Changpeng Zhao says no launch date has been set. It’s also not clear which crypto assets will be offered on the new exchange.
“We definitely hope it will be within the three months timeline and we are working very hard together with our partner on that. But the truth is, there is some uncertainty. We don’t control everything. But I think three months is generally a reasonable amount of time to get an exchange up and running.”
BAM has hired Ripple’s former head of XRP institutional liquidity, Catherine Coley, as its CEO. Coley’s primary role is to manage the launch of the new digital asset marketplace.
— Catherine Coley (@cryptocoley) July 2, 2019
Before joining the world of digital assets, Coley worked in the institutional foreign exchange market at Morgan Stanley and managed international payments for start-ups at Silicon Valley Bank.