Binance.US plans to raise a couple hundred million dollars ahead of an IPO

The US unit of the bitcoin exchange Binance could raise “a couple of hundred million dollars” in a funding round within one to two months, said Changpeng Zhao, CEO of the parent company, Reuters.

According to Zhao, Coinbase’s experience going public serves as an example. In the future, he did not rule out an IPO for the parent company.

“From the point of view of an IPO [Binance.US], it would probably be best to conduct several rounds of financing before that,” he added.

The media first reported Binance.US’s plans to conduct a funding round in September.

By that time the bitcoin exchange announced the appointment of Brian Schroeder as president of the US unit. He was tasked with preparing for a IPO.

Earlier, Zhao announced plans for Binance.US to conduct a public offering on the US stock market within the next three years.

In the interview, the Binance CEO noted the potential to reduce the size of the fees charged, thanks to the high profitability the company generates.

Zhao reiterated his commitment to working with regulators to ease concerns about the risks faced by retail traders in the cryptocurrency market.

“We want regulation. I am not a full libertarian, I am not an anarchist,” he explained.

Binance may also soon decide on the location of its headquarters; the information will initially be available to regulators.

Earlier in November, Zhao said Binance plans to open a headquarters in France. He said it could be regional or global.

Previously, Binance abandoned its decentralized business model.

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