Binance.US<\/a> CEO, Brian Brooks revealed<\/a> in a recent interview, that the exchange has no plans of opting for a public listing anytime soon. Instead, he emphasized Binance.US is in process of closing a private funding round with \u201cimpressive\u201d investor portfolios. <\/span><\/p>\n

Brooks brought up the discussion about the first venture financing round while differentiating Binance.US from Binance.com<\/a>, and continued highlighting the company\u2019s upcoming private partnerships, confirming no updates on the exchange\u2019s IPO plans.\u00a0<\/span><\/p>\n

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\u201cI really can\u2019t talk about numbers other than to say I think it\u2019s going to be an impressive round with an impressive group of investors in it, but I can\u2019t talk about it until it\u2019s done. But we\u2019re mid-diligence right now; term sheets are signed, and we expect to have something announced relatively shortly.\u201d, Brooks told Forbes<\/a>.<\/p>\n<\/blockquote>\n
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ICYMI: https:\/\/t.co\/3Bmj4jV8Fr<\/a> CEO Brian Brooks tells @Steven_Ehrlich<\/a> in a recent interview that it IS NOT considering an IPO at this point.<\/p>\n
Instead, it is in the middle of an \u2018impressive\u2019 raise, saying \u2018term sheets have been signed\u2019: https:\/\/t.co\/tx1bhWnxie<\/a><\/p>\n
\u2014 Forbes Crypto (@ForbesCrypto) July 30, 2021<\/a><\/p>\n<\/blockquote>\n
Binance.US Vs. Binance.com<\/h3>\n
Brooks explained the difference between Binance.com and Binance.US by essentially highlighting how both crypto exchanges differ in terms of functionality, where global Binance exchange offer around 900 assets, Binance.US only offers 55.<\/p>\n
Later in the interview, Brooks promoted the efficiency of stablecoin<\/a> and shared the exchange\u2019s plan about an upcoming stablecoin project. He stated that the Stablecoin project will amount to \u201c11 billion or 12 billion units of circulating supply on a given day, up 1,100% from the beginning of the year\u201d.<\/p>\n
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\u201cWe should be embedding this so that you don\u2019t need Uber cash anymore, there should be Ubercoin. It should be based on our stablecoin. Stablecoins are the future, they don\u2019t require an underlying bank to process transactions and they settle immediately.\u201d, Brooks said.<\/p>\n<\/blockquote>\n
Brooks also highlighted that Binance.US is independent of the main exchange as its service is only dedicated to US<\/a> customers. Talking about plans such as setting up offices, storing information, the firm plans to migrate the tech stack over to U.S. servers entirely. Unlike Binance.com that lays under regulatory attacks due to its unregistered and unknown workstations in different countries.<\/p>\n
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\u201cWe already store all U.S. customer information in the U.S. But things like the matching engine and product functions, among others, we\u2019ll move onshore over the next four or five months; we\u2019re already in the middle of that migration process.\u201d, Brooks added.<\/p>\n<\/blockquote>\n