Binance US reportedly plans to go public within the next few years.
What Happened: Speaking at Blockchain Week on Monday, Binance US CEO Brian Shroder said that the cryptocurrency exchange was on track for an initial public offering (IPO) in two to three years, as per a report from Forkast.
Before joining Binance US in September, Shroder served as the head of AliPay’s Southeast Asia operations and Uber Technologies Inc’s (NYSE: UBER) head of strategy and business development in Asia.
According to Shroder, Binance US booked more profits in the fourth quarter than Uber did since its inception.
Binance US operates as a separate entity from Binance — the world’s largest cryptocurrency exchange by trading volume.
The company is currently seeking licenses in New York, Texas, Idaho, Hawaii, and Vermont and expects to be licensed in all jurisdictions in the country by the end of the year.
See Also: Binance Is Taking $200M Stake In Forbes Ahead Of SPAC Deal
In the fourth quarter, Coinbase generated $2.2 billion worth of revenue for cryptocurrency trading fees alone.
Photo courtesy: Binance US
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