Binance gets US court approval to allow certain clients to use fiat currency to invest in US Treasurys

IconCryptoNewsTerminal Staff19 Jul, 2024

cryptonews.jpg

Binance gets US court approval to allow certain clients to use fiat currency to invest in US Treasurys

Binance, the world's largest cryptocurrency exchange, has received approval from a US court to allow certain clients to invest in US Treasuries using fiat currency.
The approval was granted by the US District Court for the Southern District of New York in a case involving Binance and BAM Trading Services, a New York-based company that provides fiat currency custody services to Binance customers.
Under the terms of the court's approval, Binance can custody fiat currency from its customers and use that currency to invest in US Treasuries. This will allow Binance customers to gain exposure to the US Treasury market, which is considered one of the safest and most stable investments in the world.
The court's approval is a significant development for Binance, as it allows the company to expand its product offerings and provide its customers with more investment options. It is also a sign of Binance's growing acceptance in the US, as the company continues to make progress in its efforts to comply with US regulatory requirements. ```

Related News