Binance.US Raises $200M in Seed Round at $4.5B Valuation 13

Binance.US Raises $200M in Seed Round at $4.5B Valuation

Summary:

  • Binance.US has raised $200 million in its seed round after a valuation of $4.5 billion
  • This was the first round of funding for Binance.US
  • Investors included RRE Ventures, Foundation Capital, Original Capital, VanEck, and Circle Ventures, among others
  • Launched in 2019, Binance.US has grown to become one of the largest digital asset exchanges in the United States

The American arm of the popular crypto exchange of Binance, Binance US, has raised $200 million in a seed round of funding at a pre-money valuation of $4.5 billion.

Investors who participated in the first round of funding of Binance.US included RRE Ventures, Foundation Capital, Original Capital, VanEck, and Circle Ventures, among others.

‘Binance.US plans to use the proceeds from the funding round to enhance its spot trading platform, develop a suite of new products and services to be introduced in the near-term, and invest in marketing and consumer education initiatives,’ said a company representative in an email to Ethereum World News.

The CEO of Binance.US, Brian Shroder, further pointed out that the exchange had made many strides since it was launched back in 2019. He said:

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.

…we are pleased to close our first financing round. This funding and valuation validate the strength of Binance.US’s business today, as well as our long-term growth prospects, and will enable us to continue to make our spot trading platform the best it can be while rolling out an ambitious product roadmap.

Recent Milestones of Binance.US

At the time of writing, Binance.US has launched in two new states: Connecticut and Louisiana. This in turn brings the total number of states and territories where the platform is available to 45 and 8 respectively. Also this year, the company also secured money transmitter licenses in West Virginia and Wyoming.

In addition, Binance.US is working with regulatory agencies in the remaining states to secure approvals to offer its services in all US states and territories.