Binance US could go live before November, but won’t serve NY residents initially


The U.S. entity of the world’s largest cryptocurrency exchange Binance, is expected to go live before November, but won’t serve New York residents initially.

The updates were revealed by Binance CEO Changpeng Zhao (“CZ”) in an interview with Cheddar published on Thursday. He said: "There are a lot of things in flux, but I would say [we'll launch] in a month or two.”

Since the operator of Binance US, BAM Trading Services, does not yet have a BitLicense (issued by the New York State Department of Financial Services), the exchange won’t serve to New York residents at launch, Zhao said.

Binance initially announced its plans to launch a fiat-to-crypto exchange in the U.S. last month, before breaking the news that its main platform,, would stop being available in the country in September. Binance US also recently hired Catherine Coley, former head of XRP institutional liquidity at Ripple, as its CEO.

Earlier this month, the upcoming exchange also revealed a list of 30 tokens it is considering for listing, including its native coin BNB. 

So far, Binance has launched three international fiat-to-crypto exchanges - in Uganda, Jersey and Singapore - and on all the three platforms it supports only five cryptocurrencies - bitcoin (BTC), bitcoin cash (BCH), ether (ETH), litecoin (LTC) and BNB. Binance Uganda, on the other hand, also supports PAX stablecoin.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Digital asset economy fuels instant settlements innovation

Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC