Binance US will make it to public listing in three years: CEO Zhao
Binance US, its United States-based cryptocurrency exchange, is targeting an initial public offering (IPO) in 2024, shared the platform’s CEO, Changpeng Zhao.
Zhao had discussed on September 1 in an interview that Binance US is planning to close a private funding round within the upcoming two months, which would allow the organization to gain more independence from the global Binance platform.
Speaking about the ongoing crackdown on Binance by several global governments, Zhao said he was confident that the exchange would overcome the regulatory hurdles. In fact, Binance US is planning toward a public listing in the next three years. Binance has recently been under tighter scrutiny by the governments of the United Kingdom, Canada, the United States, Italy, Thailand, Japan, and other countries.
Stating that the platform had generated $800 million to $1 billion in profit in 2020, he remarked that Binance US would “do what Coinbase did.”
With so many regulatory bodies questioning the unlicensed operations of Binance in the past few months, this news has come as the Monetary Authority of Singapore (MAS) has added Binance’s website among its investor alert list on September 1. The alert enlists unregulated individuals who might have been “wrongly perceived as licensed or regulated by MAS.”
As per local reports, the Singapore-based Binance unit, Binance Asia Services (BAS), presently operates as a separate entity running as Binance.sg, without any services from the official Binance website.
Back in June, the MAS had stated that it was planning to review BAS’ application for a potential licensing under the Payment Services Act. In February 2020, Binance had applied for operational licensing in Singapore under the Act.