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  • Catherine Coley has been appointed to lead the US branch of the world’s largest cryptocurrency exchange.
  • Binance opening US branch helps minimize the risk of heavy-handed regulators overstepping their bounds.

Catherine Coley, the former head of XRP Institutional Liquidity will be joining Binance US, the US wing of the world’s largest cryptocurrency exchange by volume, as the CEO. She is expected to supervise the operational management and guide the platform’s technology development from now on.  

Coley left RIpple after a two-year term. She has previously gained immense experience in working with custody agents, exchanges, market makers and institutional investors, having served as a Foreign Exchange Advisor at Silicon Valley Bank.

The move is expected to see Binance partnering with BAM Trading Service (FinCEN- registered company) to introduce “Binance US” only for users based in the USA. Binance will also be licensing its wallet technologies and matching engine to its US counterpart, which will be taking care of the operations keeping in mind the local regulations.

Gin Chao, Binance’s strategy officer, said that the risk of heavy-handed regulators overstepping their bounds can be reduced by opening up a separate US-based exchange. He said:  

“I don’t think we have a definite date at this stage, but it’s likely to be in the next quarter or so. You know, the regulators are making moves, so these are the steps that we need to take, unfortunately”.