Binance is listing yet another two digital currencies – Algorand (Algo) and Zcash (Zec) – at its newly launched US subsidiary, the exchange announced on Thursday.
This new listing came only a day after the crypto-fiat exchange added Dash to its offering.
The announcement detailed that both the coins will be listed against USD and will initiate trading today at 9 pm (EST).
The exchange already opened deposits of the two digital currencies to streamline the trading process.
Zcash is a privacy coin designed to hide the transaction details, and this raised concerns among many exchanges. Along with Dash, UpBit also delisted Zcash in September.
Introducing Axiory Intelligence, an Independent Market News-ProviderGo to article >>
However, Binance is taking a different approach and is offering both tokens to the US-based traders.
“Binance.US is a fast and efficient marketplace providing access and trading across a diverse selection of digital assets,” the crypto exchange stated. “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.”
Attempt to dominate the world’s crypto trading market
Launched in September, Binance is trying to compete with Coinbase in the US market. With the addition of the two new coins, Binance US will offer trading services with 17 digital currencies. For a handful of assets, the exchange is also providing trading services against BTC and USDT.
Algorand is the native cryptocurrency of the Algorand blockchain. Earlier this year, Algo VC raised $200 million to support the projects using the blockchain and increase the adoption of Algo token.
BitGo also added staking services to its platform earlier this month for Algorand along with Dash.
After dominating the crypto-to-crypto trading market, Biance is now pushing to capture the lucrative crypto-fiat market. The exchange has opened similar exchanges in various markets, including Australia, Europe, and Singapore.