Hassan Maishera
Binance.US is expanding its presence in the United States and has obtained a new license in the state of Nevada.
Binance.US, the United States arm of the world’s largest cryptocurrency exchange, announced via a blog post last week that it has received its Money Transmitter License from the Nevada Department of Business and Industry, Financial Institutions Division.
While commenting on this latest development, Brian Shroder, Chief Executive Officer of Binance.US, said;
“We continue to take the necessary steps to ensure we are operationally compliant across the United States, our customers’ assets are secure, and our platform is safe and transparent. Receiving our Money Transmitter License in Nevada is further evidence of our ongoing compliance efforts, and we are thankful for the time and trust of the Nevada Department of Business and Industry.”
The cryptocurrency exchange added that Nevada is the seventh jurisdiction in which Binance.US has secured a Money Transmitter License in 2022, following West Virginia, Connecticut, Wyoming, Rhode Island, Idaho, and Puerto Rico.
Thanks to its licenses and those of its partners, Binance.US added that it now operates in 46 states, as well as Puerto Rico, offering some of the industry's lowest fees on 120+ token listings.
Furthermore, Binance.US said in addition to its goal to serve as the most customer-centric organization in the crypto industry, the exchange continues to expand its customer support team and tools, offer low - and even zero - fees, and introduce more products and services such as staking, with an APY of up to 15%.
Binance.US has recorded rapid growth since the start of the year, with its valuation rising despite the ongoing bear market.
In April 2022, Binance.US secured $200 million in its seed funding and touched a valuation of $4.5 billion. Some of the prominent investors in the venture capital industry, including RRE Ventures, Foundation Capital, Original Capital, VanEck and Circle Ventures, participated in the seed funding.
The Binance vs. Coinbase rivalry in the United States is set to go up a notch thanks to this latest development. Positive Binance reviews continue to pour in as the cryptocurrency exchange further cements its place as the world’s leading digital asset trading platform.
