Binance.US Launches Services in Florida

Source: Finance Magnates 2020-08-25

Binance.US, the United States affiliate of the global exchange, has launched its services in the US state of Florida, thus further expanding its reach in the country.

Announced on Tuesday, the local crypto exchange was offering 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.

United States

Cryptocurrency

Binance

Swipe

Binance.US Launches Services in Florida

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