Binance.US Obtains Money Transmitter License in Nevada

Recently, Binance.US announced that the company has received its Money Transmitter License in Nevada. In 2022, the crypto firm obtained a Money Transmitter License across seven jurisdictions.

According to the details shared by Binance.US, the company is planning to expand its presence in the growing crypto market of the United States. With a Money Transmitter License in Nevada, West Virginia, Connecticut, Wyoming, Rhode Island, Idaho and Puerto Rico, the digital asset services provider aims to facilitate clients in different parts of the region.

“We continue to take the necessary steps to ensure we are operationally compliant across the United States, our customers’ assets are secure, and our platform is safe and transparent,” said Brian Shroder, the Chief Executive Officer of Binance.US. “Receiving our Money Transmitter License in Nevada is further evidence of our ongoing compliance efforts, and we are thankful for the time and trust of the Nevada Department of Business and Industry.”

Growth

Binance.US has witnessed rapid growth in its valuation during the past few months despite challenging crypto market conditions. In April 2022, the company secured $200 million in its seed funding and touched a valuation of $4.5 billion. Some of the prominent investors in the venture capital industry, including RRE Ventures, Foundation Capital, Original Capital, VanEck and Circle Ventures participated in the seed funding.

“Through its licenses and those of its partners, Binance.US currently operates in 46 states, as well as Puerto Rico,” the company added.

The Financial Institutions Division of Nevada’s Department of Business and Industry granted the recent license to Binance.US.