First launched in 2014, the coin pays homage to popular internet memes around the Shiba Inus dog breed. As of press time, the cryptocurrency had a 24-hour transaction volume of $7.85 million, according to Messari.
Crypto-lands favorite meme-coin is hitting another U.S.-based exchange.
Binance.US has announced Thursday the listing of dogecoin under the DOGE/USDT trading pair. For now, only deposits are open until trading is live at 1:00 UTC.
The dogecoin announcement was preceded by a slew of other listings including IOTA, algorand (ALGO), zcash (ZEC), and dash (DASH).
The U.S. arm of the top cryptocurrency exchange by volume, Binance.US was announced earlier this year following the regulatory ban of U.S. customers in June. Customer onboarding began in September with six initial coin listings, including bitcoin, ethereum, XRP, bitcoin cash, litecoin, and tether.
Binance US Now Offers Staking Rewards for These Two Cryptocurrencies
Announced Wednesday, the exchange said returns will be given on a monthly basis starting Feb. 1.
ALGO and ATOM are the only proof-of-stake (PoS) cryptocurrencies currently available on Binance US, a California-based licensee of one of the world’s largest cryptocurrency exchanges.
Binance US now joins Kraken and Coinbase in offering staking rewards on PoS coins, though the latter two exchanges only offer staking on Tezos (XTZ).
Binance US currently offers 28 cryptocurrencies on its platform. With U.S. compliance laws remaining a top concern for the Binance offshoot, the firm says it’s waiting for further regulatory clarity on Tezos. Binance US CEO Catherine Coley told CoinDesk the exchange hopes to offer additional staking rewards once more PoS assets are listed.
An expected return per coin was not included in the Binance US announcement. Tezos staking returns on both Kraken and Coinbase run at roughly 6 percent, according to network figures.
An alternative to proof-of-work (PoW) mining, staking encourages cryptocurrency holders to participate in the network by depositing their coins in specialized public addresses. Users compound holdings through disbursed network rewards for verifying transactions while bolstering the network’s overall security.
Launched in September 2019, Binance US was launched to cater to U.S. citizens following Binance proper’s booting of U.S. customers earlier that summer.
Binance to Launch Korean Support Center Following Investment in Local Startup
According to an exclusive report by CoinDesk Korea, Binance has taken a 500 million won ($432,000) stake in BxB, a Korean fintech firm that launched a Korean won stablecoin last year.
Alongside the investment, the two firms have inked an agreement that will see BxB support Binance in operating a new support center for local users of Binance.com, the exchange’s international platform.
The investment was made, not through the exchange’s incubator arm Binance Labs, but directly from Binance, according to the report. Binance Labs has previously invested in local firm Tera.
“We are continuously working with local partners across regions to jointly realize our shared mission in furthering cryptocurrency adoption globally. This investment is another step forward in exploring avenues of growth in Korea, which is an industry-leading market strongly positioned to stimulate blockchain innovation throughout Asia.” Binance CEO Changpeng “CZ” Zhao said.
Binance has also publicly acknowledged for the first time its local entity, Binance Co. Ltd., registered with Korean authorities in October 2019. The subsidiary will operate the new support center in partnership with BxB, the report indicates.
Going forward, Binance has bigger plans for its Korean firm, too.
“Binance is currently developing a future plan for the Korean market with BxB,” CZ said. “We are reviewing what kind of business Binance Co., Ltd. will carry out in Korea, in addition to operating the customer support center.”
One scenario raised by a representative of Binance Co. Ltd. was that it’s “possible” that BxB’s KRWb stablecoin could be linked to Binance’s BNB token, presumably to facilitate trading on Binance’s platform. While it’s recently added a raft of new fiat currency payment options, the exchange doesn’t yet have a Korean won gateway.
BxB was previously linked to Binance when it set up another Korean entity, Binance LLC, last July. BxB’s Jiho Kang was listed as director at the time.