Binance US Opens Crypto Trading Services in Alabama; 11 More States To Go
Binance U.S has expanded its services to the state of Alabama, which was among the 13 states left out when the exchange made a comeback to the U.S market in late 2019. Before this, Binance had taken a complete exit out of this burgeoning market due to regulatory uncertainties. The exchange is now in what seems to be an expansion spree in both market acquisition and product scaling.
The Alabama debut comes a few weeks after Binance U.S included Florida within its operational scope; these states, alongside the likes of New York, Washington, Vermont, and North Carolina, were initially left out because of additional license requirements. Notably, the Binance come back into the U.S market was through a partnership with FinCEN approved firm BAM Trading services.
Over 40 Crypto Assets Available Via USD
According to the Binance U.S announcement, Alabama’s crypto investors and enthusiasts will be able to access over 40 different digital assets via their fiat USD. Advanced users can further leverage Binance U.S to trade and earn digital currencies not limited to BTC. The firm also highlighted that it would continue to evaluate digital currencies as per its underlying Digital Asset Risk Assessment Framework, market factors, and the community.
Binance on an Expansion Spree!
This leading digital asset exchange is challenging the status quo of survival, given the volatile nature of the crypto market. Recent months have seen Binance expand to potential crypto hubs, significant markets that the firm has expanded to include Australia, Jersey, and South Korea. The exchange is also set to launch in the U.K market and recently joined the country’s self-regulatory association, CryptoUK.
As the market acquisition front continues to thrive, Binance is still making significant strides in its product's side as well. The firm launched a DeFi staking pool and Binance Smart Chain (BSC), causing a mixed reaction from crypto stakeholders and especially DeFi diehards. Nonetheless, these innovations have gained significant traction barely a month since launching.