Gate.US gain licenses, plans operations in the US

Gate US, the Gate.io version of crypto exchange for the US, is set to become fully operational after receiving more licenses to operate as a digital asset provider in several states in the US. The exchange will provide blockchain-based services in terms of infrastructure and trading-related services for institutions and retail consumers as well.

It can be recalled that in H1 2022, Gate.io disallowed users from nations like Bolivia, Crimea region, Syria, Sudan, North Korea, Iran, Cuba, Malta, Malaysia, Singapore, Canada, Mainland China, and the US. The ban caused reactions from users who wanted to access the services of the company. 

Then to solve the access problem for those in the US, Gate.US was launched in March 2022. It started as a marketplace for digital assets in the US and not as a fully licensed digital asset provider. Details about Gate.US reveals that citizens in New York, Hawaii, and Puerto Rico cannot access the services yet.

Over 10 million users

Speaking about the plans to expand and serve the American population, Dr. Lin Han, Founder and President of Gate US and Gate Group explained that the company wants to abide by the rules of the government. And that’s why they have “registered as a money services business with FinCEN” and are working on getting more licenses.

Gate.io has gone through a lot of transformation in the nine years of its existence. In February 2021, GateChain, the blockchain of Gate.io, launched the DeFi ecosystem and labs incubator program that allowed more blockchain projects to be built on its system. The GateChain mainnet supported EVM smart contracts in May 2021.

Then, in June 2022, September 2021, and January 2022, Gate.io launched NFT Magic Box, a creation and auction NFT platform; Gate Ventures, the funding arm was launched; and they passed the 10 million users mark respectively.

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