By Binance, the largest cryptocurrency exchange by volume, announced via a medium post on September 6, that their United States branch (Binance.Us) will be launching a few weeks from now. The launch will be preceded by Know Your Customer (KYC) registration a few days prior to the launch. This is done to ensure that users will have enough time to get their accounts verified and also deposit funds.
The launch will be preceded by Know Your Customer (KYC) registration a few days prior to the launch. This is done to ensure that users will have enough time to get their accounts verified and also deposit funds.
KYC an obligation
In order to join the ride, users will be required to provide a valid government ID such as a driver’s license or a passport alongside their social security number (SSN). The crypto marketplace is expected to available on most of the states but the finalized list will be released before the onboarding process begins.
The market will be accessible via desktop/mobile web for starters and a dedicated application will be released in the future. However, there hasn’t been any update as to what are the assets that’ll be available for trading.
Prior to this, Binance had blocked American users from trading cryptocurrencies on their platform and hence crypto enthusiasts lost access to various trading options involving many crypto assets.
A lot going on for Binance
Binance has been very active lately, from expanding to various parts of the world like Singapore, developing Venus, a localized fiat pegged stablecoin that is set to rival Facebook’s stable coin, Libra, and launching Binance Dex, the highly anticipated decentralized exchange (DEX), they’ve had their glasses full.
They have also been involved with philanthropy with ‘Binance Charity’, where they have various programs that include lunch for children, and the most recent disaster relief campaign where they aid the victims of Hurricane Dorian.
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