Despite its recent strained relationship with global regulators, one of the leading cryptocurrency exchanges, Binance, has revealed that its US subsidiary, Binance US, is studying the possibility of an IPO.

Binance USA considers IPO:

Changpeng Zhao, founder and CEO of Binance, announced the possibility of Binance USA’s IPO, while speaking at the ReDeFiNE Tomorrow 2021 Blockchain Virtual Conference.

Speaking about future plans and regulatory issues Binance is facing, CZ hinted that Binance US is looking to go public via an initial public offering (IPO).

According to Binance’s CEO, the US subsidiary of Binance, which operates separately from Binance, will create structures that will allow it to meet the regulatory requirements for an IPO.

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US Binance is looking into the path of an IPO.

Most regulators are familiar with a certain pattern and the necessity of having a headquarters and an institutional structure.

We are putting those structures in place to make it easier for an IPO to happen.

CZ: Binance has no headquarters

Binance has faced serious regulatory pressure from financial regulators around the world.

The lack of a registered head office, which has raised many questions among members of the crypto industry, may have contributed to increased scrutiny by regulators.

In May at the Ethereal Summit 2020 organized by ConsenSys, he told CZ that his company had no headquarters.

According to Binance’s CEO, not having a specific location as a head office is the beauty of the blockchain, plus, he told Bitcoin doesn’t have an office either.

Two months ago, CZ reiterated its position at Ethereal 2021 that Binance does not have a headquarters because it itself works from home and the company’s leadership team does not sit in one office.

Transformation into a financial services company:

In his statement during the “ReDeFiNE” virtual event, the CEO of Binance indicated that the company is unfazed by the increased scrutiny, given that it does not intend to remain as a startup forever.

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According to CZ, Binance already has the mentality of switching from a tech start-up to a financial services company, so it will eventually face tough regulations in the future.

At the moment, it is somewhat difficult to get Binance to agree with regulators.

But the Binance founder noted that Binance is actively ramping up compliance efforts and hiring former executives in popular regulatory positions.

In its latest step to strengthen its compliance team, Binance has appointed Jonathan Farnell, who was a former Board Member and Head of Compliance at eToro, as the new Compliance Director.

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