The operator of the U.S. division of the cryptocurrency exchange Binance has appointed Catherine Coley as the new CEO of the company. Coley worked as the Head of XRP Institutional Liquidity and has also held other positions at other financial companies such as Morgan Stanley. The information was released by the firm in a press release on July 2nd.
Binance’s Exchange U.S. Division Hires Ex Ripple As CEO
BAM Trading Services (BAM for short) is the current operator of Binance U.S. Binance is one of the largest and most popular exchanges around the world. Catherine Coley is going to be overseeing the launch of the Binance U.S. exchange and help the exchange reach North American users following local regulations.
Ripple is a company that works with the XRP digital asset and that aims at making cross border payments faster and easier to be processed. Furthermore, they also want to reduce costs for individuals and companies as well.
About her new position, Catherine Coley commented:
“I am honoured to lead BAM and bring Binance.US to North America. This is just the beginning of a long journey ahead, and I look forward to working with Binance as a partner to unlock more potential for the blockchain ecosystem here in the U.S.”
There are different countries that have been working in order to establish regulations around digital assets and the companies that work in the market. The United States has currently no clear rules for crypto-related businesses and the regulatory framework remains somehow complicated for businesses in the space.
Individuals in the United States would not be able to have access to many tokens and virtual currencies that international users are able to trade. This is due to the fact that the U.S. Securities and Exchange Commission (SEC) has taken many enforcement actions against different Initial Coin Offerings (ICOs). Thus, Binance wants to avoid problems with regulatory agencies in the country.
The CEO of Binance, Changpeng Zhao, said that they are very excited about the quality of leadership that Coley brings to the new partnership with BAM.
“Our community is very lucky to have someone passionate, versatile, and hardworking as Coley to lead Binance.US,” Mr Zhao. “I am confident that with Coley’s leadership and Binance’s leading technology platform, Binance.US will be able to provide valuable services to the U.S community.”