CEX.io Receives Money Transmitter License in 9 More U.S. States

‘Crypto Winter’ Used by Intercontinental Exchange to Get Digital Assets for Bakkt

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CEX.io, a cryptocurrency exchange that competes directly with Coinbase, is gaining support for United States users. As revealed to us via a tweet, there are nine states seeing support, Iowa, Kansas, New Mexico, Oklahoma, South Dakota, West Virginia, Maryland, Alaska, and New Hampshire.

Moving Into New Ground

As of now, citizens in these states can now participate in “secure and regulated cryptocurrency trading” on the exchange.

Interestingly, as CCN reports, CEX is one of the only exchanges that supports credit card purchases like Coinbase does.

On top of this, keep in mind that Binance is getting ready to head West as well.

Looking at CEX’s coinmarketcap statistics, the asset has traded close to $9k today. Of course, once opening to United States citizens, that number will increase a ton. Overall, the platform has 39 trading pairs, supporting assets like Stellar, Zcash, DASH, and more.

Moreover, Coinbase customers may be heading over to CEX sooner rather than later. It turns out that the foreign competitor sent out an email to Coinbase’s entire customer base. An excerpt from the piece:

“CEX.IO has already been operating in 20 U.S. states that allow anyone to facilitate fiat-to-crypto transactions. And we’ve received 9 new Money Transmission Licenses (MTLs) in 2019!

“Our next move is to obtain an MTL in every state in the U.S. and continue in our mission to provide a regulated, trusted path for the general public to participate in the digital economy.”

Of course, the battle between Binance, Coinbase, and CEX.IO will be an interesting one. To start, Coinbase already has customers complaining all the time online about the platform. Then, we have Binance which is one of the biggest exchanges in the world and has the mindshare already.

CEX is entering a space that both of these markets already occupy. They’re really going to have to step their game up if they want to bring in customers.

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About Max Moeller

Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/