Binance, one of the world’s leading cryptocurrency exchanges by trading volume, has officially launched its futures trading platform. The platform is currently open to customers by invitation only.
Binance CEO Changpeng Zhao announced the launch today via Twitter. He also suggests that the release of a new feature, real-time tick updates for all symbols, may be an industry first.
– @Binance Futures officially launched, invitation-only for now
– Lending batch 3
– Top menu optimization
– API: real-time tick-by-tick updates for all symbols (an industry first?)
and maybe more. #onwards
— CZ Binance (@cz_binance) September 9, 2019
While the launch marks a milestone for Binance, traders in the US are focused on the company’s decision to terminate their ability to trade on Binance.com as of September 12th. The company is preparing to launch Binance.US, a new, fully compliant platform for US crypto traders, and hopes that American residents will be on board.
But a social security requirement is causing people to express skepticism and grief.
Binance USA wants ss# I will never ever trade on Binance USA. Things getting real weird
— DangDrifter (@BarcombRuss) September 9, 2019
US customers who were used to trading on Binance without needing to fill out paperwork will now have to pass know-your-customer (KYC) checks before they can trade. The platform, operated by BAM Trading Service, a newly launched company run by CEO Catherine Coley, will require customers to submit not only a social security number but also a valid government ID, such as a passport or driver’s license.
According to Coley, the exchange is set to open in “the coming weeks.”
“We are finalizing the list of states where we will start to roll out service to users and will release this list before we begin onboarding customers.”