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Binance\u2019s US arm is updating the way it lists crypto assets by giving traders advance notice when it is considering adding trading support for a new token.<\/p>\n
Binance.US says<\/a> the new procedure aims to provide additional transparency to its listing process.<\/p>\n The first asset the exchange is evaluating<\/a> with the new process is the native token of the recently launched layer-1 blockchain Sui Network (SUI<\/a>).<\/p>\n Sui Network\u2019s mainnet first went live in early May. The project is an Aptos (APT<\/a>) rival and uses the same coding language, Move, which was originally developed for Meta\u2019s attempt at building a digital asset. Sui Network runs on a delegated proof-of-stake (DPoS) consensus mechanism and aims to provide low latency and high throughput.<\/p>\n Mysten Labs, the developers behind the project, raised<\/a> $300 million late last year at a $2 billion valuation.<\/p>\n Binance.US says support for SUI is pending review and notes the token \u201cmay soon be listed\u201d on its platform. The 95th-ranked crypto asset by market cap is trading at $0.415 at time of writing.<\/p>\n Binance\u2019s global exchange rolled out support<\/a> for SUI on its Launchpool platform back in May, and top US crypto exchange Coinbase listed<\/a> SUI later that month under its \u201cExperimental Label,\u201d a designation the company established for riskier, lower liquidity tokens.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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