The world’s largest crypto exchange may soon establish a regulated entity in a G-7 nation in Europe, Binance founder and CEO Changpeng Zhao said Tuesday at the Financial Times Crypto and Digital Assets Summit.

See related article: Binance wants to play ball with regulators

Fast facts

  • Zhao said Binance already has a standard corporate structure — a prerequisite when it applies for licenses — and has a holding company that it will disclose soon.
  • Binance has been on a major compliance drive, recently obtaining licenses in Dubai, Bahrain and Abu Dhabi.
  • Binance.US, Binance’s American partner operating in 45 states and seven territories, last week said it won a license in Puerto Rico.
  • The crypto exchange’s latest compliance efforts included hiring former British regulator Steven McWhirter as a director of regulatory policy.

See related story: Yi He: Binance will take the arrows for industry compliance, security