BAM Trading Services, the operator of the forthcoming U.S. cryptocurrency exchange of Binance, has tapped an ex-Ripple professional as its new CEO.
BAM revealed on July 2 that it had hired Catherine Coley as CEO, who will be in charge of launching Binance U.S., along with promoting the exchange across North America.
According to BAM announcement, Coley was the lead of XRP Institutional Liquidity at Ripple before joining the company.
Coley was into banking industry before entering the blockchain and crypto space. She served in the institutional foreign exchange market division of banking giant Morgan Stanley in Hong Kong and London. She also worked for Silicon Valley Bank, managing international payments and global treasury administration for startups.
Binance founder and CEO Changpeng Zhao said in the announcement:
“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.”
“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.,” Coley stated.
The news comes following Binance’s announcement that it will launch a site for U.S.-based traders through Binance U.S. managed by its partner BAM. Soon after the deal, Binance.com blocked all users in U.S. territories on its global trading platform.
As of press time, details about BAM are limited. It was reported earlier that the company registered as a money services business with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN), bearing the official name “BAM Trading Services Inc.” at a San Francisco address.
Based on the Delaware Department of State’s Division of Corporations, BAM was incorporated in Delaware on February 4.