Puerto Rico Grants Money Transmitter License to Binance.US

Binance News

    • Puerto Rico recently granted Binance.US a money transfer license.
    • This is the company’s second attempt to cater to the investors of the United States.
    • This license brings the company a little closer to having a license in all 50 states and territories in the US.

Binance.US has recently added another jurisdiction that granted them a money transmitter license: Puerto Rico. A variety of American states have already issued Binance.US this license. Some Of these states include Wyoming, Connecticut and West Virginia.

The license was handed to Binance.US by the Puerto Rico Office of the Commissioner of Financial Institutions (OCIF). According to Binance.US CEO Brian Shroder, this license brings the company a little closer to having a license in all 50 states and territories in the US.

Shroder stated that “Puerto Rico, in particular, is an important market for the growth of crypto.”

To be clear, Changpeng Zhao is the CEO of Binance as a whole, and this was his second attempt to cater to the investors of the United States. Binance’s previous operations were banned by The States because of regulatory concerns. This new license for Binance.US brings CZ one step closer to his dream of being licensed everywhere.

Binance has plans for other parts of the world as well, as the company has been positively received in the Middle East. Abu Dhabi became the third jurisdiction in the Middle East to give Binance an in-principle approval to operate as a regulated crypto exchange. The previous territories to do this was Bahrain and Dubai.

The Abu Dhabi Global Market’s (ADGM) approval gives Binance the necessary freedom to operate as a broker-dealer in digital assets, including cryptocurrencies.

Binance has plans to use their recent funding to fund and improve existing systems and launch a variety of new and exciting products.