According to Changpeng ‘CZ’ Zhao, CEO of Binance, one of the world’s largest exchanges, the company’s U.S. affiliate is planning an IPO within three years.
Zhao said, according to a report published by The Information on Wednesday, “Binance.
By following in the footsteps of Brian Armstrong’s exchange, the United States will simply do what Coinbase did.
The decision to go public would be a boon for the beleaguered Binance brand, which has been the subject of investigations or warnings in several countries.
Zhao revealed a projected timeline during an interview with us, according to a Binance spokesperson, who also stressed that his response is dependent on market factors.
During the interview, he was asked if he had a clear idea of when Binance would launch.
Zhao said the timing of the IPO in the United States would be determined by the company’s growth.
“Three years should be sufficient for an IPO if the business can grow consistently over the next three years,” he said. “It could be a little longer if there is a prolonged bear market for, I don’t know, three or five years.”
During his time at the Redefine Tomorrow event in July, Zhao first mentioned that the company’s U.S. affiliate was considering an IPO. A number of factors, including regulatory approval, influence the timeline.
According to the report, US is also planning to close a large private funding round within the next two months, which would see the exchange’s CEO relinquish control of the US affiliate’s board.
Earlier this year, the CEO stated that parent company Binance had no plans to go public, citing its overall growth and cash reserves as reasons.