The largest cryptocurrency exchange of USA, Binance US, may go public via an IPO, the firm’s CEO Changpeng Zhao said.
CZ announced on Friday at the “Redefine Tomorrow” event organized by SCB 10X, the venture arm of Thailand’s oldest Siam Commercial Bank. Saying on the future plans and regulatory issues that his exchange is facing. CZ hinted that Binance US is looking to go public via an initial public offering (IPO).
The CEO stated that Binance US is setting up structures that will allow it to go public.
“Binance US is looking at the IPO route. Most regulators are familiar with a certain pattern or having headquarters, having a corporate structure. But we are setting up those structures to make it easier for an IPO to happen,” CZ said.
After announcing plans to launch an IPO, Binance follows popular crypto exchange firm Coinbase. He also said that Coinbase, a crypto exchange that debuted in Nasdaq in April, set up a “playbook” for the crypto firms.
According to CZ, Binance “is in the mindset of shifting from a tech startup to a finance services,” therefore it will ultimately be faced with heavy regulations in the future.
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All over the world, Binance has been facing serious regulatory pressure from financial watchdogs. Over the past week, regulators from around the world have seemingly ganged up against Binance. In June, UK FCA warned the leading crypto exchange that it is not authorized to provide its services in the country. Several other countries, including Japan, Singapore, and the United States, have also issued warnings to the exchange.
