Crypto exchange giant Binance has finally received regulatory approval to launch its services in the state of Florida. Initially, the US arm of Binance was launched in 37 states, and the firm avoided states that had more stringent requirements. The expansion into America’s third most populous state is enabled by Binance.US’s July obtainment of a money transmitter license. Binance is now “fully registered and regulated crypto and digital asset exchange,” and Floridians can transact in all the digital currencies that Binance.US supports. Bitcoin news aggregator platforms like Cryptopanic are a great way to keep up with crypto exchange news.
The license allows Binance to offer crypto exchange services for two years.
The license to operate in Florida is good for two years and grants the crypto exchange access to what it covets most: a new market. The US state has roughly 12.3 million residents over the age of 18, and hence, offers 12.3 million potentially eligible traders. An update on the Binance.US website outlined the details of the launch for Floridians in a similar tone to Coley: “We couldn’t be happy to welcome Florida residents to Binance.US!” However, New York and Texas are still off-limits for Binance due to their licensure requirements.
Florida woman brings crypto marketplace to home state.
Get ready for tomorrow, y'all! https://t.co/sOLHuLsaVp
— Catherine Coley (@cryptocoley) August 25, 2020
Binance continues to expand globally.
One of the leading crypto exchanges in the world, Binance, has expanded its presence across countries in the last few years. The crypto exchange giant has acquired many local crypto and blockchain companies around the world in the past few years. Earlier, Binance provided a fiat-to-crypto platform for Australian users. Changpeng Zhao said that Binance Australia aims to make crypto more accessible among Australian users, furthering its mission to provide crypto access and drive freedom of money worldwide. The crypto exchange has acquired and collaborated with several crypto businesses around the world in recent times, making its reach more global than its competitors. Binance also launched its mining pool earlier this year.