Binance.US, the US arm of cryptocurrency exchange Binance, is planning to list for an initial public offering in two to three years, the company’s CEO Brian Shroder said during the Binance Blockchain Week.
The CEO further revealed that Binance.US has registered more profits than Uber did since its inception. Crypto media outlet Forkast was the first to report the news Monday.
If listed, Binance would join only a few cryptocurrency exchanges that went public, such as rival Coinbase. However, it might be possible that Binance may face hurdles along the way owing to its infamous reputation amongst regulators worldwide.
Binance CEO Changpeng first revealed listing plans in September last year. In an interview with The Information, the CEO noted that “Binance.US is just going to do what Coinbase did,” adding that Binance.US users pay about one-fifth of the fees that they pay on Coinbase. He further revealed at the time:
“If the business can grow consistently over the next three years, then three years should be sufficient for an IPO, but if there’s a prolonged bear market for, I don’t know, maybe three or five years, then it may be a little bit longer.”
Binance is currently the world’s largest cryptocurrency exchange by trading volume, registering a daily volume of more than $21.83 billion today.