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
- 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.
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