The major U.S. affiliate of Binance digital currency exchange - Binance.US - announced a partnership with Silvergate Exchange Network (SEN), a 24/7 instant settlement platform created by leading financial services provider Silvergate. Binance.US CEO Catherine Coley expects the API integrations with SEN to be, “a huge advantage for clients that are trying to get funds into Binance.US to be able to buy and sell cryptocurrencies.” As Cole disclosed to media, the work to integrate the two companies data is progressing with a dozen or so tests performed.
Binance.US is working with regulatory guidelines to grow its network. The company has also partnered with Nevada-based company Prime Trust to offer a dollar custody solution to Binance.US retail customers. In a separate statement, Silvergate CEO Alan Lane state that he believes that Binance.US will benefit from this collaboration and add value to its company via better performance.
Binance.US's relationship with Binance, a crypto conglomerate with multinational alliances and affiliations that are subject to public scrutiny, is well placed in the US market. Coley showed pride in joining with SEN by saying, “This is unlocking a lot of access for folks that have been wanting to work with but haven’t been able to because we were not kind of operating in their style.”