Binance.US has obtained a remittance license in Puerto Rico, as the world’s largest cryptocurrency exchange continues to expand globally while trying to pay more attention to compliance.
Binance.US wins license in Puerto Rico to fuel growth
Binance.US CEO Brian Shroder said Puerto Rico is an important market, and “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 a seed round earlier this month, valuing it at US$4.5 billion.
The US branch of Binance currently operates in 45 states and seven territories. Puerto Rico is the fourth jurisdiction in the US where Binance has received a remittance 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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