BAM the operator of Binance U.S. announced today (July 2) its appointment of former Ripple exec as its new CEO.
BAM Trading Services (BAM) is the U.S. counterpart to Binance, described as a ‘secure and compliant digital asset marketplace for users in North America’. The firm has hired Catherine Coley to head up the newly formed exchange. Coley’s most recent post saw her heading up Ripple’s liquidity management but will now spearhead the push for BAM to open its market to North American traders.
Coley has also gained experience in global capital and cryptocurrency markets with roles at Morgan Stanley and the Silicon Valley Bank. Coley is noted as playing ‘an integral role in the evolution of trading infrastructure and market development, dedicated to improving global access to digital assets.’
Changpeng Zhao (CZ), CEO of Binance commented on Coley’s post in saying ‘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.’
It has previously been noted that CZ will take no active role in BAM and Binance U.S. will act independently. This was followed by the news that Binance was to restrict U.S. customers through their newly updated terms of service on June 14th.