Binance IPO within the next 3 years in US, Zhao says

Binance, is the world’s largest cryptocurrency exchange. But in the recent years, the company has had to deal with airtight regulations in many places across the globe. The U.S. put a hold in the company’s involvement with its citizens, a move that lead to the creation of a new platform targeting U.S. citizens only.

Still, in the early months of this year Binance was banned from undertaking its operations in England since they didn’t have an excellent system to conduct customer background checks.

But in the U.S. Binance has given up a good fight, a move that has seen the company managing to get back to all its operations in the United States, with so much time spent dealing with regulatory authorities, Binance has managed to gain U.S. control.

In an effort to have an easy time navigation tough U.S. tough regulations, Binance saw the need of bringing in Tigray Gambaryan, an ex-U.S. agent who previously worked in investigations against Silk Road, along with former IRS Special Agent, Matthew Price.

Right now, Binance is the third-largest exchange in the U.S., slightly behind Kraken and Coinbase. On a daily basis, the company averages close to $1.2 billion in trading.

Binance CEO, Changpeng Zhao recently stated that the firm will play a primary role in the United States. He further reiterated that he will come up with a physical office whose role will be to deal with regulatory figures with the hope of obtaining an IPO in the U.S.

Zhao expects the IPO to bring in hundreds of millions of dollars in a few months, funds that will be used to boost the company’s presence to become one of the largest finance firms in the globe. A good number of speculators believe that Binance’s push to America is a result of the recent ban of cryptocurrencies in China.

Still, several exchanges such as Huobi have reported massive losses in customers after China went ton to shut its doors to crypto trading. In a move aimed at surviving and remaining competitive, these exchanges have been looking to penetrate other jurisdictions around the globe.

Other theories that attempt to explain Binance’s push for compliance surrounds the company’s blockchain platform Binance Smart Chain (BSC), a platform that has realized immense success in projects along with users over the last year.

Even though this centralized blockchain seems to have lacked the participation of the United States based on its hot and cold relationship with U.S., regulators, the IPO is expected to ease things with many companies expected to go for BSC over Ethereum due to lower gas fees and quick speeds of transactions.

Make sure that you stay tuned to the news with Binance expected to make it known the location of their new company headquarters.