On Tuesday, BAM announced the appointment of Catherine Coley as CEO. She’ll be responsible for rolling out Binance U.S. and the expansion of the exchange’s marketplace in North America. Before joining the firm, Coley was the head of XRP Institutional Liquidity at San Francisco-based Ripple.
Past achievements and future prospects
Prior to joining the blockchain and crypto industry, Coley worked with banking giant Morgan Stanley in Hong Kong and London in the institutional foreign exchange market. She also handled international payments and global treasury management for startups at Silicon Valley Bank.
Founder and CEO of Binance, Changpeng Zhao made the following comments: “I am confident that with Coley’s leadership and Binance’s leading technology platform, Binance.US will be able to provide valuable services to the U.S. community.”In the statement, Coley also said: “This is just the beginning of a long journey ahead, and I look forward to working with Binance as a partner to unlock more potential for the blockchain ecosystem here in the U.S.”The news comes weeks after Binance announced it will be opening a site for U.S.-based traders through Binance U.S. controlled by its partner BAM. Sequel to the deal, Binance, the exchange’s global trading platform, has blocked user’s access based in all territories of the U.S.
There’s very little information about BAM thus far, however, CoinDesk reported that the firm registered as a money services business with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). It registered with the legal name “BAM Trading Services Inc.” with a San Francisco address. In addition, BAM was incorporated in the state of Delaware in Feb, according to Delaware Department of State’s Division of Corporations.