Celebrating a Major Milestone
In a remarkable achievement, Binance.US, the United States arm of the popular crypto exchange Binance, has surpassed the $10 million mark in daily trading volume. As noted by the CEO of Binance America, Catherine Coley, the exchange recorded a staggering $10,481,594 in trading volume as of press time. Talk about hitting the ground running!
The Road to $10 Million
Launched on September 24, Binance.US kicked things off with 13 trading pairs, allowing users to exchange fiat currencies for cryptocurrencies and vice versa. Among these pairs were heavyweights like Bitcoin (BTC), Ether (ETH), and the stablecoin Tether (USDT). Changpeng Zhao, the CEO of Binance, humorously remarked, “Took Binance longer to unlock this achievement back in the day,” illustrating the considerable effort and patience it takes to build a successful trading platform.
Special Mentions: Bitcoin Futures and New Offerings
This week has been particularly notable for Binance. The exchange recently launched its Bitcoin futures trading, which recorded an astonishing $700 million in volume — a bright spot amidst a sea of mediocre activity in the market.
In addition to this launch, Binance is expanding its offerings with the introduction of two new crypto assets, IOTA (MIOTA) and Binance USD (BUSD). BUSD, pegged 1:1 to the US Dollar and backed by the New York State Department of Financial Services, is making waves in the world of stablecoins. Talk about a regulatory nod of approval!
Enhancing User Experience with New Features
In a further bid to enhance user experience, Binance.US is now allowing users to send an initial ACH deposit of up to $5,000. After a mere 10 days, this limit jumps to a whopping $30,000. It seems BinanceUS is determined to make trading as seamless as possible!
Looking Ahead: International Expansion
In a significant move towards international markets, Zhao recently pointed out the potential of supporting the Russian ruble on the flagship Binance platform. It’s an interesting pivot, as Zhao noted that Russian President Vladimir Putin holds enormous influence in the blockchain sector. This could pave the way for fascinating developments in the crypto space.
Final Thoughts
All in all, Binance.US is making strong strides in the crypto exchange arena. With millions in daily volume, new asset offerings, and a commitment to regulatory compliance, it looks like they’re just getting started. So, strap in, because it seems Binance.US is fully ready to rocket into the future of digital trading!
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