Binance.US has just obtained a money transfer license to offer its services within Puerto Rico. According to the CEO of Binance’s US arm, the island is an important market for the development of the cryptocurrency ecosystem.
Binance.US lands on the island of Puerto Rico
Binance’s US arm has just obtained its money transfer license to expand its services to the Commonwealth of Puerto Rico.
The certification was issued by the Puerto Rico Office of the Commissioner of Financial Institutions to the cryptocurrency exchange platform, which now operates across 45 US states.
According to the Nationwide Multi-State Licensing System and Registry (NMLS), the licensing registration system in Puerto Rico, this license is required for the following activities:
“Offering services or engaging in activities in which any order for payment is received, including, but not limited to, cashier’s checks, checks, personal money orders, or any other means of payment for the transmission of money or payment […] and whose services require that the person for whom the transmission of money is processed, negotiated, or made pay a service fee. “
Porto Rico is currently the fourth US jurisdiction in which Binance can operate with this valuable credential, after Wyoming, Connecticut and West Virginia.
Binance remains true to its values, always with a view to legal compliance, as Brian Shroder, Binance.US’s managing director, confirmed:
As the US home for buying, trading and earning digital assets, our goal is to provide the most compliant and customer-centric exchange in all 50 states and territories. Puerto Rico, in particular, is an important market for crypto growth and we look forward to continuing to provide its residents with secure, reliable and low-cost access to a robust selection of tokens. “
The news comes just 3 weeks after Binance.US raised $200 million in its first round of funding. The US cryptocurrency exchange platform has seen its valuation rise to $4.5 billion as a result.
