In a blog post published on November 6, 2019, the U.S. arm of Binance crypto exchange – Binance.US – announced that it will list VeChain’s VET digital token.
VET Scores Binance.US Listing
Binance.US, the recently launched U.S. customer-centric arm of major cryptocurrency exchange Binance has introduced support for supply chain management project VeChain’s native cryptocurrency – VET.
According to the blog post, trading for VET/USDT will commence from November 7, 2019, at 9 PM EST. In order to prepare for trading, interested users can start depositing their VET holdings with the exchange. Notably, for the time being, Binance.US is only supporting VET deposits. Per the announcement, VET withdrawals will not be enabled for customers until trading goes live on the platform.
Following the announcement, the VET token experienced a slight surge in its price. At the time of writing, VET ranks 31st on the CoinMarketCap crypto table with a market cap of more than $295 million – trading at $0.00532 – up by 4.42 percent in the last 24 hours.
Recent VeChain Developments
The Singapore-based blockchain supply chain management project is looking to transform the supply chain space by leveraging the innumerable benefits offered by distributed ledger technology (DLT). Especially, blockchain technology’s immutability is of utmost importance for the logistics industry which is most concerned with the time, records, and prices of the goods or services being transported.
VeChain is one of the few crypto ventures to have received an official nod of approval from the Chinese regulators. Earlier in June this year, the DLT initiative inked a business partnership with Walmart China to ensure the safety of food and other perishable edibles via blockchain technology.
On a more recent note, BTCManager reported on October 21, 2019, how VeChain had unveiled its new block explorer and Ledger Wallet interface.
Binance.US Expanding Its Crypto Portfolio
Of late, Binance.US has been on a coin listing spree, introducing support for a whole host of altcoins with promising potential.
As reported by BTCManager on November 2, 2019, Binance.US enabled support for debit card transactions to make it easier for crypto traders to buy, sell, and trade digital currencies on the exchange.