The US-based branch of the Binance crypto exchange, Binance US, has surged past the $10 million volume mark for the first time. Notably, analysts have stated that it took Binance longer to unlock this same achievement back in the past. Currently, the exchange has enjoyed $10,481,594 in daily traded volume as announced by Catherine Coley, Binance America CEO.
According to previous reports, Binance US went live on September 24, 2019. At first, the platform offered 13 fiat-to-crypto trading pairs. These included major cryptos like Ether, Bitcoin, XRP, Litecoin, Bitcoin Cash, Tether (USDT) stablecoin, and Binance Coin (BNB).
Earlier this month, it was noted that Binance’s newly-launched Bitcoin futures platform was an outlier in the general crypto spot and derivatives markets. The token hit a $700 million record while the other trading platforms experienced lackluster activity. On that news, Binance CEO Changpeng Zhao commented:
“Took Binance longer to unlock this achievement back in the day, most people underestimate the effort involved in jump-starting a new platform.”
According to an announcement from October 22, Binance has this week launched support for two new crypto assets. The new assets are Binance USD (BUSD) and IOTA (MIOTA). Binance USD is a stablecoin that is backed by the USD and it was launched Binance in partnership with digital asset trust company Paxos this September.
The asset, just like many other fiat-pegged stablecoins in the Crypto industry, has acquired regulatory approval from the New York State Department of Financial Services (NYSDFS).
This week, Binance.US has increased ACH limits for USD deposits and withdrawals. Now, users can send an initial ACH deposit of up to $5,000. After 10 days have elapsed, their ACH deposit limits will increase to $30,000.
The Ruble Support
According to the latest reports, Binance CEO Changpeng Zhao has told reporters earlier this week that in his opinion, Russian President Vladimir Putin is the most influential person in the entire blockchain space. This month, Binance announced that it aims to add support for the Russian ruble on its flagship exchange.