The new platform, however, was not serving the New York residents initially as the exchange did not receive BitLicense from the NYDFS. The NY BitLicense was loosened a few months ago, so I expect they will be approved eventually. Though Binance’s services were confined with crypto-to-crypto trading in the US, the exchange last year partnered with a local entity to form a new entity in the country - Binance US - offering fiat-based services. The Binance.US CEO was recently interviewed and they are seeking approval to operate in all 50 states and working with NYDFS to gain approval. It recently introduced trading pairs against the euro for its customers in Europe, but this is only the beginning as its CEO Changpeng “CZ” Zhao is aiming to enable trading with over 180 fiats by the end of this year. This announcement came when the crypto exchange is aiming to expand its fiat-based services around the globe. In addition, the coin is supported on both ERC-20 and BEP-2 standards. It also enabled the purchasing of the token with other stablecoins, including USDT, USDC, TUSD, and Paxos-issued PAX. To attract users for the coin, the Malta-registered exchange is offering no additional trading cost with it, excluding the mandatory bank and wire transfer charges.
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