Binance US Attains $4.5B Valuation After $200M Fundraise

The valuation will bring several new product updates that will come through the organization itself as well as mergers and acquisitions.

Binance US Prepares for IPO

The US franchise arm of Binance, Binance US, secured a $4.5 billion valuation after completing an initial $200 million fundraising. The valuation validates the direction that Binance US has been heading in since the arrival of CEO Brian Shroder following a revolving door at the helm in 2021. 

After months of seeking support, Binance US has put itself on track for an IPO later in the year after finalizing the fundraiser, according to a blog post from April 6. The fundraise was joined by the major capital firms RRE Ventures, Foundation Capital, Original Capital, VanEck, and Circle Ventures, as well as groups focusing on diversity, equity, and inclusion. 

“In under three years, Binance.US has grown into a profitable business that is not only one of the largest and most technologically advanced digital asset exchanges in the United States, but in the world,” CEO Brian Shroder detailed in the blog post. “From this position of strength, and with an eye toward continuing our rapid ascent alongside the ascent of the crypto industry at large, we are pleased to close our first financing round. This funding and valuation validate the strength of Binance.US’s business today, as well as our long-term growth prospects, and will enable us to continue to make our spot trading platform the best it can be while rolling out an ambitious product roadmap.”
Source

Binance US added in the blog that the fundraising will serve three purposes:

  • Increasing the functionality of our industry-leading trading platform.
  • Developing and launching a new product and service suite that will be announced in the near future.
  • More widely disseminating the Binance.US brand, as well as educational endeavors to close the knowledge gap.

Binance US is on a mission in 2022 to grow into all 50 states and make due on the prospect of an IPO by the end of the year. The American affiliate to the world’s largest crypto exchanges has expanded further into Connecticut and Louisiana, growing availability to 45 states and eight territories. The group also recently confirmed Money Transmitter Licenses in West Virginia and Wyoming.

“Binance.US’s ability to offer its customers a superior trading experience at a lower cost is a structural advantage that sets it apart from the competition and positions the Company to continue to gain market share,” Jason Black, General Partner at RRE Ventures, added in the blog. “By leveraging its best-in-class, highly scalable technology, Binance.US has an exceptional opportunity to serve as the platform of choice for individuals and institutions seeking exposure to digital assets.”

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