Former Ripple Executive To Take Over As CEO of Binance US

We had earlier reported on Binance opening a new wing for its customers and the United States. Now the Chief Executive Officer or CEO for the organization has been appointed by BAM Trading Services, the operator of Binance US. According to a recent announcement posted via a Medium blog, they have hired a former Ripple executive as the new CEO of the organization.

BAM has recruited Catherine Coley, who used to earlier work as a liquidity management expert with Ripple. She will now be overseeing the launch of Binance US and will help expand the market of BAM in the North American region.

Coley had been working in Ripple since 2017, serving as the Head of the XRP Institutional Liquidity most recently, before leaving to take over the position of CEO with Binance US.

As the announcement details, she has a demonstrated history of working with several major players in the fintech space. The announcement tells us:

“Coley is a seasoned fintech veteran with experiences at the crossroads of global capital and cryptocurrency markets. Her previous roles include institutional FX at Morgan Stanley in Hong Kong and London, international payments and global treasury management for start-ups at Silicon Valley Bank, and global liquidity management at Ripple. Since joining Ripple in 2017, she has played an integral role in the evolution of trading infrastructure and market development, dedicated to improving global access to digital assets.”

Binance is currently the largest cryptocurrency exchange in the market, as per its adjusted daily trading volume. It announced its decision to launch Binance US in association with BAM on the 13th of last month and since then, it has restricted its US-based users’ access to services.

Speaking about the latest recruitment, Changpeng Zhao, the CEO of Binance said:

“We are excited about the quality of leadership that Coley brings to our partnership with BAM
Our community is very lucky to have someone as passionate, versatile, and hardworking as Coley to lead Binance.US. 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.”