Binance.US, headed for an IPO, has been valued at US$4.5 billion following a more than US$200 million fundraise in its seed round.
See related article: Binance US on track for IPO
Fast facts
- Investors include RRE Ventures, Foundation Capital, Original Capital, VanEck, Circle Ventures and inclusion-focused companies such as Gaingels and Gold House, Binance.US said on Wednesday.
- Fresh funds will be used to enhance trading platform, and launch new products and services.
- The fundraise comes as Binance.US targets an initial public offering (IPO) in three years.
- Binance.US has distanced itself from the world’s largest crypto exchange but both firms were founded by Binance cofounder Changpeng Zhao.
- Zhao Thursday tweeted that he was “excited for this new chapter” and that the American team is “bringing more crypto to more people in the U.S.”
- Binance.US will face considerable scrutiny in the U.S., especially after filing the initial paperwork for an IPO.
See related article: Binance wants to play ball with regulators