Binance.US Launches Services in Florida

Tuesday, 25/08/2020 | 07:53 GMT by Arnab Shome
  • With 12.3 million population above 18 years, Florida is a lucrative state for crypto service providers.
Binance.US Launches Services in Florida
Binance CEO Changpeng Zhao

Binance.US, the United States affiliate of the global Exchange , has launched its services in the US state of Florida, which further expands its reach in the country.

Announced today, the local crypto exchange has offered crypto trading services in 37 US states, and Florida has become the 38th. This means Florida-based crypto traders can now trade digital currencies on the platform using fiat.

“We couldn't be happier to welcome Florida residents to Binance.US! Welcome to America's home to buy, trade, and earn digital assets including Bitcoin ,” the official announcement stated.

Becoming a Global Crypto Brand

Binance entered the US market late last year and is operating the local exchange in partnership with BAM Trading Services, a rather mysterious FinCEN-registered company that appears to be based in San Francisco, California.

In fact, the services in Florida was launched as BAM received a local money transmitter license. This might also boost the activity on the exchange, given Florida’s status of being the third populous state in the country.

The exchange is still about to launch its services in 13 more US states including New York where gaining a crypto services license is deemed to be the toughest.

Since its US launch, Binance is constantly upgrading its services. Last month, the exchange partnered with Sovos, a startup that focuses on cryptocurrency accounting and auditing, to modernize its tax information reporting.

The exchange also launched the services of Swipe, a crypto card issuer that was recently taken over by Binance, in the United States, to further bring US crypto customers within its ecosystem.

Binance.US, the United States affiliate of the global Exchange , has launched its services in the US state of Florida, which further expands its reach in the country.

Announced today, the local crypto exchange has offered crypto trading services in 37 US states, and Florida has become the 38th. This means Florida-based crypto traders can now trade digital currencies on the platform using fiat.

“We couldn't be happier to welcome Florida residents to Binance.US! Welcome to America's home to buy, trade, and earn digital assets including Bitcoin ,” the official announcement stated.

Becoming a Global Crypto Brand

Binance entered the US market late last year and is operating the local exchange in partnership with BAM Trading Services, a rather mysterious FinCEN-registered company that appears to be based in San Francisco, California.

In fact, the services in Florida was launched as BAM received a local money transmitter license. This might also boost the activity on the exchange, given Florida’s status of being the third populous state in the country.

The exchange is still about to launch its services in 13 more US states including New York where gaining a crypto services license is deemed to be the toughest.

Since its US launch, Binance is constantly upgrading its services. Last month, the exchange partnered with Sovos, a startup that focuses on cryptocurrency accounting and auditing, to modernize its tax information reporting.

The exchange also launched the services of Swipe, a crypto card issuer that was recently taken over by Binance, in the United States, to further bring US crypto customers within its ecosystem.

About the Author: Arnab Shome
Arnab Shome
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6404 Articles
  • 82 Followers

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