Binance CEO Changpeng Zhao said Friday that the US subsidiary of Binance has raised $200 million in a funding round, which is set to close in a month or two, and the global cryptocurrency exchange has decided to set up a new headquarters.

Speaking at the Bloomberg New Economy Forum in Singapore, CZ said that the parent company’s US subsidiary has the option to go for an initial public offering (IPO) the way its rival Coinbase does, and that he does not rule out listing the parent company in the future as well.

During the same event, CZ stated:

I think it’s two hundred million dollars,

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He added that he did not know the exact number of the proposed new funding.

He added:

From an IPO perspective, it’s best to have a few rounds of financing before that.

Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has come under scrutiny by regulators, with some banning the platform and others warning that it is not licensed to operate.

Its US subsidiary is reportedly under investigation.

Binance, along with other cryptocurrency exchanges, has seen a surge in trading volumes with the boom in prices of digital assets, such as Bitcoin, Ethereum and other smaller tokens, and finding greater mainstream acceptance.

According to British research platform CryptoCompare, Binance spot crypto trading volumes totaled $789 billion in September and $454 billion in July.

When asked if his company is making billions of dollars in profits, “CZ” answered largely yes without providing a specific number.

He also said that since Binance has been in a for-profit position, it will likely charge less than competitors and this is something Binance has been considering.

Speaking about the issue of heightened regulatory scrutiny and concern about the risks that retail traders are exposed to in the cryptocurrency markets, CZ reiterated his position that his company is in regular talks with regulators, and said:

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We want organisation. I am not a complete liberal, and I am not an anarchist.

CZ also said that Binance will very soon announce where the company has decided to locate its headquarters and communicate its plan to regulators first.

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