Crypto Exchange Binance Plans US IPO in 3 Years, CEO Says

Crypto Exchange Binance Plans US IPO in 3 Years, CEO Says

Cryptocurrency exchange Binance’s U.S. arm could be going public in three years, Binance CEO Changpeng Zhao has revealed. He said that his exchange “is just going to do what Coinbase did.” Coinbase Global went public on Nasdaq via direct listing.

Binance Plans to IPO in the US Within 3 Years

Binance’s founder and CEO, Changpeng Zhao, said in an interview with The Information Wednesday that his company’s U.S. arm could have an initial public offering (IPO) in the next three years. He described:

Binance.us is just going to do what Coinbase did.

Cryptocurrency exchange Coinbase went public on Nasdaq in April via a direct listing. The exchange recently said that it wants to be the “Amazon” of crypto and list all legal cryptocurrencies.

Binance.us is also set to close on a large private fundraising round in the next two months, Zhao told the publication, adding that his company generated $800 million to $1 billion in profit last year.

Binance has recently been heavily scrutinized by regulators worldwide, including those in Malaysia, Japan, the U.K., the Netherlands, Cayman Islands, Hong Kong, Thailand, Germany, and Lithuania. The company recently complied with the June requirements imposed by the U.K.’s Financial Conduct Authority (FCA).

In an effort to become a financial services company, Binance imposed mandatory know-your-customer (KYC) requirements for all users in August. Former acting Comptroller of the Currency, Brian Brooks, also recently left Binance as the CEO of Binance U.S.

What do you think about Binance going public in the U.S.? Let us know in the comments section below.