Binance.US, the American division of the world’s largest cryptocurrency exchange, has partnered with the DeFi Alliance. 

The Chicago-based DeFi Alliance is a non-profit organisation dedicated to providing support and mentorship to DeFi startups, in the areas of trading, markets, and regulation. 

Since launching in April 2020, the alliance has attracted support from several major players in the DeFi space, including DRW/Cumberland CMT Digital, Aave, Compound Finance, Jump Capital, Volt Capital and others. 

In May, the DeFi Alliance selected a mix of decentralised exchanges, asset managers, and derivative platforms – 0x, Kyber Network, Opyn, Idex, Token Sets, Dydx, and Synthetix – as its first startups. 

Commenting on the news CEO of Binance.US, Catherine Coley, said:

“What drew innovators to the space over the past decade, and what draws newcomers now is the open access and global potential offered by decentralized financial systems. 

“By working with DeFi Alliance, Binance.US will help mature the DeFi space, build for broader inclusion, and support startups as they unlock the potential DeFi offers, the potential that so many of our users are passionate about.”

Binance.US is fully compliant and regulated in 40 US states, recently announced trading in Alabama, Georgia, and Florida, and has said it aims to provide services to residents of all 50 states by the beginning of 2021. It currently supports ten DeFi tokens including LINK, from Chainlink, MKR, from Maker, and stablecoin DAI.

In August, Binance.US also announced it had joined the Washington DC-based Blockchain Association. 

AYO.NEWS says:

Things are starting to get confusing in the world of DeFi organisations – earlier this week we reported that the Global DeFi Alliance had welcomed 10 new members, including Aave, which is also a member of the DeFi Alliance… It’s a good job they have different branding! 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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