Binance US, the United States-focused arm of leading cryptocurrency exchange Binance, has raised more than $200M in a just-concluded seed funding round.
Binance US Hits $4.5B Valuation
The fundraising, which was described as the company’s first-ever funding round, puts Binance US at a $4.5 billion market valuation.
The round saw participation from leading industry investors including Circle Ventures, Foundation Capital, Equity, Gold House, and many more.
The recent seed round will help the company achieve its goals, which include educating those who are new to the crypto market to bridge the gap between knowing cryptocurrencies and using them without fear, thereby onboarding more users on the platform.
More than that, the $200 million cash injection will open the way for creating and launching new crypto products and derivatives, hence giving investors access to a variety of investment options.
Binance US Continues to Grow
Since its launch in 2019, Binance US has been focused on bringing cryptocurrencies within arms-length reach for United States residents and the company has grown tremendously since then.
“In, under three years, Binance US has grown into a profitable business that is not only one of the largest and most technologically advanced digital asset exchanges in the United States but in the world, ” Brian Shroder, CEO of Binance US said.
Over the years, Binance US has onboarded experts, including the likes of Norman Reed, Sydney Majalya and Carol Mackinlay, to fill strategic positions in the company.
The exchange has also added support for two new states to the number of territories where it offers its services. This makes it 45 states and a total of 8 territories in the United States.
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