Binance.US Permitted To Invest Customer Funds In T-Bills
NYSE Arca Approves Bitwise And Grayscale's Ethereum ETFs, Stellar Partners With Glo Stablecoin Project
On July 19th, District of Columbia Judge Amy Berman Jackson granted Binance.US permission to invest certain customer fiat funds US Treasuries, or T-bills with a 4-week rolling maturity period.
No third parties are allowed to be involved in the investments, and Binance will have to maintain a sufficient amount of USD to be able to satisfy withdrawal requests.
Binance.US's corporate assets can now also be invested with third party entities, but only to funds not related to Binance.
The court decision also allows Binance.US to transfer assets to US-based third-party custodian wallets, with withdrawals to be approved both by Binance and the custodian.
Binance.US will have to produce data on costs associated in its monthly report.
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