Binance US Considers An IPO As Binance Besieged by Global Regulators

Binance US, the US variant of the world’s biggest cryptocurrency exchange, is eyeing an initial public offering (IPO) in the country, according to Binance CEO Changpeng Zhao. 

“Binance US is looking at the IPO route,” said Zhao on Friday at the REDeFiNE Tomorrow 2021, a virtual summit organized by SCB 10X, part of Thailand’s Siam Commercial Bank, while adding that the plan is “not 100% fixed yet”.

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Zhao further detailed that the public-listing plan is not an immediate one. The US entity needs to change its current structure to go public.

“Most regulators are familiar with a certain pattern, or having headquarters, having corporate structure. But we are setting up those structures to make it easier for an IPO to happen,” Zhao said.

Binance US operates separately from the global business since its establishment in 2019 and is now led by former bank regulator Brian Brooks. This allows the US firm to seek continued progress while Binance is besieged by global regulatory agencies​.