The dedicated U.S. arm of cryptocurrency exchange Binance will go live by November, according to Binance’s CEO.
Changpeng “CZ” Zhao told Cheddar in an interview on Wednesday that, while the situation is still “in flux,” he expects the new platform would go live in “a month or two.”
Due to uncertainties over the U.S. regulatory situation, Binance barred states-side customers from using its global platform Binance.com in mid June, a day after revealing that it would launch the new U.S. division in partnership with a firm called BAM Trading Services.
The new platform will be run by BAM, but use Binance’s wallet and matching engine technologies. Catherine Coley – a former Ripple executive – will lead the launch and future growth of Binance US as CEO, as announced in early July.
In the interview, CZ further said that the US exchange will not initially operate in New York state, which sets a high bar for crypto firms applying for its “BitLicense.”
Neither Binance nor BAM have yet applied for a BitLicense and Coley would not comment on the possibility when asked by Cheddar.
“The U.S. historically has made very clear regulations, so we hope that will clear up,” CZ said, adding that, despite the regulatory uncertainties currently, “we’re willing to try.”
CZ image via Binance
Disclosure Read More
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.