Binance.US Now Supports Dogecoin and Looks to Expand Further
By Luke Flowers – Cryptocurrency Speculator
According to an Oct. 24 blog post, major crypto exchange Binance’s US branch, Binance.US is now looking to include support for Dogecoin (DOGE). Users will soon be able to buy and sell cryptocurrency native to this chain via a Binance platform.
This means that users of the crypto exchange will be able to trade DOGE/USDT pairs starting at 09:00 p.m. EST on Oct. 24, though they can already deposit the coin ahead of trading. Withdrawals will come after the launch of trading for those that seek to buy crypto on the chain.
On Sept. 24, Binance.US was launched and offered to support crypto-to-crypto and fiat-to-crypto trading pairs. These trading pairs included well-known currencies such as Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Binance Coin (BNB), Tether (USDT) and Litecoin (LTC), allowing users to buy Cryptocurrency that runs on the major blockchains.
Also, on Sept. 24th, Binance.US announced five more cryptocurrency deposits, including Basic Attention Token (BAT), Cardano (ADA), Stellar (XLM), 0x (ZRX) and Ethereum Classic (ETC), to open trading, support and liquidity for these coins. You can buy and sell cryptocurrency on these chains on the standard Binance exchange, but the US has proved a difficult location to expand for crypto related businesses.
Binance.US then opened account registration and verification services for Puerto Rican residents. Binance.US also announced that it holds its U.S. dollar deposits in pooled custodial accounts at different banks that the Federal Deposit Insurance Corporation insures. The FDIC is a US government agency which backs the deposits of citizens in bank accounts. Many crypto related businesses have come under fire when looking at where they choose to hold users’ funds.
As recently reported, Binance.US had exceeded $10 million in daily traded volume.
It has also been reported that Binance is looking to grow its token offering with the listing of Blockstack (STX), which is the first digital token offering that the U.S. Securities and Exchange Commission permitted. The project is also looking to run a $23 million investment round under Regulation A+. This could encourage many to buy and sell Bitcoin for a token that has passed the SEC’s requirements.
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