Binance.US Rolls Out Tezos Trading Today; XTZ To Be Paired With USD and BUSD

Binance.US, the US branch of the giant crypto trading platform Binance Exchange, is set to kick-off trading of Tezos (XTZ) tokens starting March 16th, Finance Magnates reports.

As per a blog post released by Binance US, the listing will kick off with an offering of XTZ/USD as well as XTZ/BUSD starting exactly at 9.00am EST. The firm also clarified that it started to accept XTZ deposits from Sunday, March 15. Consequently, clients can only make withdrawals once the trading starts.

https://t.co/AZwoBOy3iq Will List @tezos $XTZhttps://t.co/kHjyP97gdi pic.twitter.com/Ji2NueLLPG

— Binance.US 🇺🇸 (@BinanceAmerica) March 15, 2020

According to the official blog post, for a client to either deposit or exchange USD for XTZ, they must meet the fiat verification rules as well as the basic and other advanced identity verification within its platform.

XTZ token is the main cryptocurrency for the Tezos blockchain project. By publication time, XTZ was trading at $1.31. This was after shedding off at least 18 percent of its value for the last 24 hours. The token has also fallen by more than 50% of its value from it's all-time high in February this year that was $3.90. By February, Tezos was also ranked as the tenth biggest crypto by market cap.

Tezos is a brainchild of Arthur and Kathleen Breitman which was founded in 2014 and registered in Switzerland. The firm conducted its ICO in mid 2017 raking in more than $232 million.

The Tezos project was highly affected by a spat between Johann Gevers, Tezos Foundation former head, and the Breitmans which was highly publicized. The dispute affected the project’s timeline leading to various class-action lawsuits.

However, last year, the project recovered after securing the backing of high-profile industry players like Tim Draper which led to a rise in its staking component. According to Cointelegraph, there are various investors who have indicated interest in different projects that are currently developing on the blockchain or will kick off soon.