Catherine Coley, CEO of Binance.US, states in a recent interview that Binance and Ripple share the same vision to provide low-cost remittances and banking services to everyone around the world. Ripple’s On-Demand Liquidity payment technology would be perfect for Binance’s cross-border payments says Coley:
Having built Binance.US, we are building easy fiat on-ramp allowing people to get low fees for exchange dollars into currency of their choice with the ease of being able to connect to other larger geographic places.
When asked directly whether Binance would work with Ripple, Coley states:
I think it’s a perfect match but we’ll see what they have to say.
Coley started her career in the traditional financial sector and worked as a consultant at Silicon Valley Bank and Morgan Stanley, among others, where she gradually came into contact with new financial instruments and technologies. Already at that time she predicted that the future financial market would be led by powerful computers. It was along this path and her interest in disruptive technologies that she finally came to Ripple.
At Ripple, she was head of the XRP Institutional Liquidity department. Host Tony from ThinkingCrypto asked her if she was bullish for the further development of XRP:
[…] that we can move money quickly across borders is something that is a use case I really still feel quite strongly about and the technology that’s been built and they’re continuing to build on top of it I think that they’re in […] great hands.
Binance.US started in September last year with 8 cryptocurrencies and a limited range of functions. To date the portfolio has grown to 30 cryptocurrencies and an app has been introduced. Coley describes that Binance.US is gradually applying for all important licenses in order to be allowed to operate in other states such as Texas or Minnesota.
Coley was not allowed to give exact names of which other coins will soon be listed on the exchange, but these are supposed to be coins that allow staking. Binance.US is based on current demand and feedback from the community. According to Tony, there is great demand for VeChain, but Coley did not confirm that the exchange will soon list VET.
The rumor mill was already boiling in the past when Binance CEO Changpeng Zhao declared in an Ask-me-anything (AMA) that he was planning to work with Ripple using xRapid, now known as On-Demand Liquidity:
We’re focused on launching more features right now, so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future we’ll definitely want to add them as a partner.
So far, however, these are unconfirmed rumours, so it remains to be seen whether and when there will be cooperation between the two companies.
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