Binance U.S. to move slower than Binance.com: Catherine Coley
While Binance continues its efforts into delivering its growing services throughout the globe, Binance U.S. CEO, Catherine Coley featured in a Fortune interview to uncover what it currently meant for the U.S. establishment. According to Coley, the need for creating a U.S. version of Binance was mainly due to the regulations at hand. She added,
“We bring a marketplace that’s suited for our American users, with the same technology that they can experience on Binance, but with the comfort that it’s within regulation in the U.S.”
Pointing out the main differences between Binance U.S. and Binance.com, Coley highlighted that the U.S. company offers “a selected amount of tokens rolling out in a sequence” in order to achieve adequate liquidity. She added,
“We want to be applying products new to the market and in a cadence that will work with the regulation in the U.S. We will be going at it at a different cadence and speed (from Binance.com), but one that will be in line with the American regulation.”
Binance U.S. is currently operational in 37 states and Puerto Rico, and plans to gain customer base by going through a series of process to procure state by state licences, although Coley could not guarantee any particular time frame for the same. While some of the user functionality might be tweaked to better cater the U.S. crypto market requirements, the CEO assured the U.S. platform will be powered by Binance’s core technology for the matching engine, speed, simplicity, and the security.
Admitting to a delayed entry into the U.S. market, Binance U.S. has been proactive to entice customers, by offering free cryptocurrency trading until November 1 and $15 credits via referral programs. It is important to note that the U.S. version of Binance will also limiting its token listing while complying with the Digital Asset Risk Assessment Framework.