Binance.US has announced the listing of Zilliqa (ZIL) on its platform. According to the announcement, the addition of ZIL would enable customers to access new trading pairs. These trading pairs are namely ZIL/USD and ZIL/BUSD.
Binance further revealed that the trading process for both trading pairs would begin on February 20 from 9.00 PM EST. The news was circulated to Binance.US users via an official Twitter post.
Binance has been adding new cryptocurrencies to its US platform and the addition of Zilliqa is a major milestone for the exchange.
Customers can begin to deposit USD,ZIL and BUSD tokens in their wallets to enjoy the latest developments. In addition, Binance.US clarified that ZIL tokens are available for deposits while withdrawals would be until the trading pairs go live on the platform.
New users wanting to deposit and trade USD for ZIL would have to pass fiat verification procedures as well as other KYC identification on the platform. Customers who are looking to deposit USD for trading would be required to utilise one of the three USD payment options namely via debit card, wire payment or ACH.
Binance.US was launched in 2019 following new regulations by the US regarding cryptocurrencies. The regional platform is available for only US residents and has KYC checks that fall in line with the new regulations
Binance is expected to add more trading pairs in the coming months on its US platform as it has several coins on its checklist.
Established in 2017, Zilliqa was the creation of a team of academics, entrepreneurs, and engineers. The blockchain project was designed focusing on the idea of “Sharding,”.
Which is a process that divides the mining network into small fragments or shards that help in the processing of transactions in parallel. This is expected to provide a solution that would improve the scalability of cryptocurrency networks like Ethereum.