Binance US is all set to make its debut in the country. The firm will begin accepting account registrations and cryptocurrency deposits from the next week.
The Binance US users will select the verification tier on the basis of their desired withdrawal limits during the initial registration phase. This is to ensure their compliance with US tax and AML laws. After the launch phase, the firm will unveil when trading will go live for specific trading pairs. Later it will begin accepting other assets on its platform.
The users can thus start depositing Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, and Tether into their accounts to prepare for the launch of trading. The pairing that will be available on the platform will be on the basis of a new digital risk assessment framework. The number of pairs might be less than the 150 or so coins, thanks to the rigid regulations.
The renewed push of Binance into the U.S. market is a part of the exchange’s broader initiatives. It wants to expand outside of the international crypto-crypto market segment. Last month, Binance had launched Binance US. For this, the firm had partnered with BAM Trading Services. BAM uses Binance’s wallet and matching engine products whereas Binance offers BAM Trading Services, as the source states.