Puerto Rico

Binance.US wins license in Puerto Rico to fuel growth

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Binance.US has obtained a money transmitter license in Puerto Rico, as the world’s largest cryptocurrency exchange continues to expand globally while seeking to become more mindful of compliance.

See related article: Binance.US valued at $4.5B following first seed round

Fast facts

  • Binance.US CEO Brian Shroder on Tuesday said that Puerto Rico is an important market and that “our goal is to offer the most compliant and customer-centric exchange in all 50 states and territories.”
  • The new license comes as Binance.US raised over US$200 million in its seed round earlier this month, valuing it at US$4.5 billion.
  • The U.S. arm of Binance currently operates in 45 states and seven territories, with Puerto Rico being the fourth jurisdiction within the U.S. where Binance received a money transmitter license so far this year.
  • Binance.US is expected to face considerable scrutiny in the U.S., especially after filing the initial paperwork for an initial public offering, which the company targets in two to three years.

See related article: Binance closer to Thai business as Gulf Energy greenlights joint venture



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