Binance America Breaks $10 Million Daily Volume for the First Time

Published at: Oct. 23, 2019

The United States-based branch of major crypto exchange Binance, Binance.US, has broken the $10 million volume mark.

“Took Binance longer to unlock this achievement back in the day”

As of press time, the exchange has seen $10,481,594 in daily traded volume, according to data shared by Binance America CEO, Catherine Coley. 

As Cointelegraph previously reported, Binance.US went live on Sept. 24 of this year, initially offering 13 fiat-to-crypto and crypto-to-crypto trading pairs. 

These included major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB) and the Tether (USDT) stablecoin. 

Earlier this month, Binance’s newly-launched Bitcoin futures was an outlier in the crypto spot and derivatives markets, hitting a $700 million record as other platforms saw lackluster activity.

“Took Binance longer to unlock this achievement back in the day,” commented Binance CEO Changpeng Zhao on the news. “Most people underestimate the effort involved in jump starting a new platform.”

The week’s developments

As an announcement from Oct. 22 indicated, Binance has this week launched support for two new crypto assets: IOTA (MIOTA) and Binance USD (BUSD).

Binance USD is a USD-backed stablecoin that was launched by Binance together with digital asset trust company Paxos this September. The asset — like several other fiat-pegged stablecoins in the industry — has received regulatory approval from the New York State Department of Financial Services.

Binance.US has also this week increased ACH limits for USD deposits and withdrawals, with users now able to send an initial ACH deposit of up to $5,000. After 10 days, their ACH deposit limits will increase to $30,000. 

Ruble support to launch on flagship platform

As reported, Binance CEO Changpeng Zhao has this week told reporters that from his perspective, Russian President Vladimir Putin as the most influential person in the blockchain space. 

Binance had this month revealed it was poised to add support for the Russian ruble on its flagship exchange.

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