1.Binance US Plans to Begin Business Next Week
2.Seed CX’s Subsidiary Zero Hash Launches Support for Crypto Derivatives
1.Binance US Plans to Begin Business Next Week
Binance.US, the US arm of the world’s biggest cryptocurrency exchange has announced that it will open registration and deposits on its platform in the US. The customer registration and verification will start on 18th September 2019, The announcement is published on official Medium blog on september 12, 2019.
The launch will initiate a rollout of multiple Binance products across the U.S., Binance also reaffirmed that soon they will include support for other cryptocurrencies.
Binance.US is initially accepting deposits in BTC, ETH, XRP, BCH, LTC, and USDT.
The registrants will only be able to make deposits on the previously mentioned date, however should hold up until the exchange provides an update detailing when trading will go live for specific pairs. Prior to that, they should pass a verification process with the selected KYC level to set out the withdrawal limits.
The dedicated US arm of Binance said. “After trading launches for this first phase, we will be continually adding to the selection of digital assets available for verified users to deposit and eventually trade on Binance.US. Trading availability of the digital assets we’re exploring will be based on our Digital Asset Risk Assessment Framework,”
What occurs next?
Starting Wednesday, September 18, 2019, at 8 am ET, you can go to Binance.US to:
1. Sign up for your account
2. Verify your information
3. Deposit any of the initial selection of digital assets listed below:
- BTC
- ETH
- XRP
- BCH
- LTC
- USDT
2.Seed CX’s Subsidiary Zero Hash Launches Support for Crypto Derivatives
Zero Hash, the crypto-focused arm of Seed CX, has launched support for subsidiaries, enabling participants to settle two-sided subordinate transactions, The announcement is published on official Medium blog on Sept 11, 2019.
With this, the platform is now supporting all back-office settlement capacities for advances. The organization also has plans to extend the functionality for options as well, the announcement detailed.
In its help of advances settlement, Zero Hash performs collateral management for derivatives throughout their lifecycle, including:
-
- The calculation of variation margin, initial margin and final settlement values,
- The sending of margin-call notifications, and
- The movement of funds, significantly reducing operational and counterparty risk.
The help of derivatives on the Zero Hash settlement service enables participants to modify the settlement of their forwards contracts, and to decide the frequency in which those calculations occur, providing greater flexibility to institutional investors in the digital asset space.
Brian Liston, Seed CX co-founder and President of Zero Hash said ,“Derivatives are a rapidly evolving area within the digital asset industry, yet there is a critical demand in the market for a regulated post-trade settlement utility, like Zero Hash, “We’re excited to service that demand with the launch of this new functionality. Zero Hash can now enable any trading platform or set of participants to trade and settle forwards in an efficient and secure manner.”
Darius Sit, Managing Partner at QCP Capital said ,“We see a growing demand for third-party settlement platforms to handle margin and settlements between counterparties,”
Zero Hash declared in July that it had received a virtual currency license from the New York Department of Financial Services (NYDFS). In June, Zero Hash was voted Innovator of the Year by the 2019 Profit & Loss Readers Choice Awards. This followed the subsidiary’s successful launch of a suite of over-the-counter (OTC) trade settlement services for digital assets earlier this year.
About Zero Hash
Zero Hash is a FinCen-regulated Money Service Business and FX Dealer as well as a Money Transmitter in more than 30 states. Zero Hash custodians both fiat and digital assets, with on-chain settlement. Zero Hash holds a virtual currency license from NYDFS.
