Home News Binance.US revealed plans to raise “a couple hundred million” ahead of IPO

Binance.US revealed plans to raise “a couple hundred million” ahead of IPO

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The American division of Binance crypto exchange can attract “a couple hundred million dollars” based on the results of the funding round within one to two months. The chief executive officer of the parent company Changpeng “CZ” Zhao announced this, writes Reuters.

According to Zhao, an example is the experience of the rival Coinbase, which has received public status. In the future, he did not rule out the entry of the parent company on the stock exchange.

“For an IPO (initial public offering) perspective [Binance.US], it’s probably best to have a few rounds of funding before that,” he added.

Reducing the amount of fees

Recall that previously in September, Zhao announced Binance.US’ plans to conduct a public offering of shares on the US stock market in the next three years. For the first time, Zhao spoke about Binance.US’ plans to enter the stock market in June 2021. Then he said that the division is currently focusing on the development and growth of the business.

During the current interview, the CEO of Binance noted the potential for reducing the number of fees charged due to the high profit generated by the company. Zhao once again recalled working with regulators to mitigate their concerns about the risks that retail traders are exposed to in the cryptocurrency market.

“We want regulation, I am not a complete libertarian, I’m not an anarchist,” he explained. In the near future, Binance may also decide on the location of its headquarters. Information about this will initially be available to regulators.

Binance headquarters in France

Earlier in November, CZ announced plans to open the Binance headquarters in France. According to him, it can be both regional and global.

In the same month, Binance and France FinTech launched an initiative to support blockchain and cryptocurrency projects in France in the amount of €100 million. This reduces the chances of Ireland as the country of registration of the headquarters, which previously Reuters presumed.

“France is a natural choice for a regional and possibly global head office. We want regulation to accelerate growth. 5% of the world’s population (400 million people) has already discovered cryptocurrencies. We need to convince the remaining 95%. To do this, we need to create trust. The presence of contacts with local authorities and offices where customers can solve emerging problems,” Zhao said.

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