In addition to the US-based “funding giant” program for the US-based Binance.US business, BNB is also currently seeking global funding to improve relationships with regulators, CEOs and regulators. Binance Changpeng Zhao said in an interview with The Business Authorities on Tuesday.
Zhao said the upcoming funding is aimed at raising “awareness and relationships” with multiple governments as many financial regulators around the world snubbed Binance this year.
“But it can also bind us to certain countries that we want to be a little careful about,” noted the CEO.
Since BNB is currently in the preliminary talks phase, it is still too early to reveal the names of the asset funds involved in the fundraising, said Zhao. “The size of the ticket in question will not be small. It won’t be a short process. “
As BNB’s largest shareholder, Zhao is one of the richest men in the world in the crypto industry with an estimated total net worth of $ 8 billion as of January 2021.
According to the CEO, BNB’s daily trading volume rose from just $ 10 billion to $ 30 billion two years ago to $ 170 billion in November 2021. Binance.US, the US company that operates separately from the global Binance exchange, plans to raise “several hundred million dollars” in early 2022.
Global regulators have been increasingly scrutinizing the BNB exchange this year, with at least dozen governments issuing warnings against the company, including countries like the US and UK, Italy, Canada, Japan, Singapore, Germany, and others.
Related: Binance continues its push to become a regulated crypto exchange with new hires
BNB has taken several steps to improve its relationship with global regulators by discontinuing some of its services in multiple countries and hiring senior finance executives.
Zhao reportedly said he was not worried about illegal activity on Binance’s platform as the company “is likely better than Know-Your-Buyer (KYC) and Anti-Knowledge (KYC) policies and actions the banks”. ).