Cryptocurrency and decentralized computing platform, Tezos is now live on Binance US arm, Binance.US. The cryptocurrency exchange has announced the listing of Tezos (XTZ) on its platform starting on Monday, March 16, 2020.
According to the announcement by Binance, users will be able to trade Tezos on Binance.US. Trading pairs for the crypto will include XTZ/USD and XTZ/BUSD. Trading is expected to commence at 9:00 am EST or 6:00 am PST.
In line with this announcement, interested Binance.US users will need to deposit USD, BUSD, or XTZ in their wallet, to be able to trade. Binance.US started accepting Tezos deposit since March 15, 2020. Withdrawal feature has, however, been enabled, since Tezos trading has gone live on the platform.
Users interested in trading XTZ will need to undergo fiat verification. This verification can only be done after basic and advanced verification has been completed.
Deposits can be done through any of the following means: debit card, ACH or wire payments. All USD deposits on the platform are FDIC protected.
Following the current bloodbath of the entire crypto space, Tezos is down by over 18 percent in the last 24 hours. As at press time, it was priced at $1.31 per token, which is over half of its all-time-highs of about $3.90 in February 2019.
Founded in 2014 by Arthur and Kathleen Breitman, the exchange once held the position of the tenth-largest crypto by market cap. Arthur and Kathleen later founded a non-profit organization known as the Tezos Foundation. The foundation held an Initial Coin Offering (ICO) in July 2017 and made $232 million.
The foundation and platform were designed such that most Tezos’ funds will be in the care of the Tezos foundation. The exchange, however, met with rocky terrain, when its former head had a fall out with the Breitmans. Leading to a lot of public accusations and several class-action suits.
It’s listing on Binance.US is a sign that the crypto is finally back on track and gaining traction.
As at press time, Tezos was worth $1.31 per token, after having fallen more than 18 percent in the last 24 hours. And more than 50% since its all-time high of roughly $3.90 in February of this year.
Binance.US was founded last year. It is an arm of popular exchange Binance and was specially designed to meet with US crypto regulatory requirements. Popularly known as a fast and safe exchange, it provides US users with easy access to a wide range of cryptocurrencies. The exchange further disclosed that it would continue evaluating crypto in line with its Digital Asset Risk Assessment Framework. Community feedback and market demand are also part of the main contributing factors to listing tokens on Binance.US.