The US subsidiary of Binance has opened trading services with privacy-centric digital currency Dash, the exchange announced on Wednesday.
Launched last month, the crypto-fiat exchange now offers trading services against three base currencies – Bitcoin, USD, and USDT – and currently lists 15 digital currencies with the latest listing.
Trading with Dash is, however, only available against USD.
The listing is crucial as other major crypto exchanges recently delisted DASH due to concerns over the usage of privacy-oriented digital currencies. However, OKEx is now reviewing its decision to delist the cryptocurrency.
Binance US’ local competitor Coinbase also listed DASH to its offering last month.
Why Your Enterprise’s Finances Rely on Employee TrainingGo to article >>
“Binance.US is a fast and efficient marketplace providing access and trading across a diverse selection of digital assets,” the announcement noted. “We will continue evaluating coins, tokens and trading pairs to offer on Binance.US in accordance with our Digital Asset Risk Assessment Framework, community feedback, and market demand.”
Schemes to attract clients
To attract customers in the new market, Binance is offering many promotional offers to US customers, including exemption of trading fees up to November 1.
The exchange is also offering an automated clearing house (ACH) services to facilitate fast trading services with fiat.
“For ACH USD deposits, you can buy and sell digital assets from your USD wallet immediately. However, deposited funds will have a 10-day hold before you can withdraw from Binance.US. USD wires do not have this hold period,” the announcement detailed.
With almost $650 million in market capitalization, Dash is among the top 20 digital currencies in the market, according to Coinmarketcap.com. At $71 apiece, the currency is almost trading flat in the last seven days.
Meanwhile, Biance is also pushing to enter the Chinese market. The exchange recently launched a peer-to-peer trading service with yuan and is also planning to launch a Chinese fiat supported over-the-counter (OTC) desks.