Binance.US and SEN (Silvergate Exchange Network) Now Working Together

The American affiliate that has the same name with the globe's biggest crypto exchange, Binance.US, has united the Silvergate Exchange Network (SEN), a 24/7 rapid settlement network used by several of the biggest trading entities in the space.

SEN, which is replacing clunky wire transactions by letting corporates immediately move USD among crypto exchanges also on nights and weekends, saw its volume raise $7.8 billion to $17.4 billion in the first quarter, according to a current Silvergate Bank profits call.

Right now existing members of Silvergate’s SEN payment system include Gemini, Kraken, and ErisX. 

“We’ve launched SEN for our corporate clients so now they’re able to move dollars through Silvergate around the clock instantaneously,” Binance.US founder Catherine Coley told in a discussion.

Catherine Coley
“It’s a huge advantage for clients that are trying to get funds into Binance.US to be able to buy and sell cryptocurrencies, and we’re excited to see the impact on the rest of our liquidity.”

Coley told that all the API integrations with SEN had gone easily, having managed testing with about a dozen or so customers.

“We’ve seen about five times the growth of their current trading behaviors on the platform by just the testing of SEN,” she said.