CEO of Binance, Changpeng Zhao, disclosed that the U.S. arm of the exchange plans to launch an IPO within the next three years.
While speaking in a zoom meeting, Zhao said that Binance.US was “just going to do what Coinbase did” by going public.
He also stated that Binance.US is on the verge of completing a large private fundraising round. The fundraiser is expected to come to a close in the next two months and would reduce Zhao’s stake on the board of Binance.US.
Binance has been faced with global scrutiny from regulators all over the world. Some countries like Brazil, South Korea, Hong Kong, and the UK have all laid strict rules concerning cryptocurrencies and various exchange platforms.
However, Binance.US is a separate entity from Binance and is thereby protected from any issues that might arise from regulatory scrutiny.
Binance has taken several steps in order to be more compliant with regulations in different jurisdictions. It hired a former treasury investigator as its Global AML chief; it has also introduced “intermediate verification.” on its platform.