The US-focused division of major crypto exchange platform Binance has reportedly become a new member of a large organization, established primarily to work on decentralized finance (DeFi). 

Specifically, Binance.US has reportedly been an official part of the Chicago DeFi Alliance (CDA) – receiving support from crypto fund Volt Capital, brokerage company TD Ameritrade, CMT Digital, Cumberland DRW, Compound Finance and numerous big names.

Via its initiative to become a member of the alliance, Binance.US reportedly looks to make extra contribution to the further growth of the US-based DeFi sector, as stated by the head of the company Catherine Coley. 

“By working with DeFi Alliance, Binance.US will help mature the DeFi space, build for broader inclusion, and support startups as they unlock the potential DeFi offers,” Coley further remarked. 

Officially set up in April this year, the CDA alliance reportedly has a primary goal to offer startups and entrepreneurs working mainly with DeFi the assistance and guidance, regarding the compliance with trading regulations, along with different other related requirements.

Binance.US’s move to join the Chicago DeFi Alliance reportedly publicly surfaced following the firm’s previous participation in the U.S.-based Blockchain Association in August 2020.