Binance is planning an initial public offering (IPO). Binance management estimates the value of the exchange at $300 billion, which is three times higher than the estimate of its closest competitor, Coinbase.
It is not yet known where Binance shares will be traded. The fastest growing crypto exchange in the world does not have a head office or licenses in the countries where it operates.
In the fall, CEO Changpeng Zhao spoke about plans to conduct a public offering in the United States in the next three years. A large private fundraising round for Binance.US is planned for the fall, despite the company's relatively high annual profits. The CEO indicated that he is ready to step down as the company seeks to become a regulated financial institution.
Binance, founded just four years ago, has become an exchange giant, the cryptocurrency equivalent of the stock exchanges of London, New York and Hong Kong. According to CryptoCompare, Binance now processes $76 billion in cryptocurrency transactions daily, more than all of its largest competitors.
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