Binance has named Ripples former “Head of Institutional Liquidity” as chief of its upcoming US crypto exchange operator BAM Trading Services. Which will enable US citizens in the future, again on a platform of Binance to trade.
According to a BAM press release, new CEO Catherine Coley will lead the launch of the recently announced Binance.US Binance offshoot in the US – and thus the “market expansion” of BAM on the continent.
BAM emphasized Coley’s commitment to “Improving Global Access to Digital Assets” – the new boss had worked for Morgan Stanley and Silicon Valley Bank in institutional foreign exchange before her job at Ripple, so she has many years of experience in the field.
Coley’s appointment follows Binance’s mid-June announcement. It announced that US users should no longer be able to trade on the stock exchange and instead receive a fully regulated, local, Fiat-to-crypto platform.
The move is expected to be a big breakthrough for the company to succeed globally. Only in September, CEO Changpeng ‘CZ’ Zhao suggested that his crypto-exchange had little interest in attracting regulators in the North American market.
Details of how the new FinCEN-registered partner BAM has not yet betrayed Binance, but the company assures: “We want to release more information soon about how Coley’s company will contribute to” fully aligning the US market to operate with the regulations “.