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Binance believes that the recent financing signifies an important moment for the company as it empowers people to maximize the use of money.
The US arm of Binance crypto exchange, Binance.US, has announced the generation of over $200 million in a seed round. The exchange company proudly announced its latest achievement in its first-ever financing round on the 6th of April. With participation from renowned investors in the seed round, the Binance US arm is now valued at $4.5 billion. Foundation Capital, VanEck, Circle Ventures, and RRE Ventures are some of the investment companies that contributed to the round. Binance. Additionally, Binance.US revealed that diversity, equity, and inclusion-focused firms, including Gold House and Gaingels, also participated in the seed round.
Binance.US Completes Seed Round
According to the US arm of Binance, the outcome of the seed round will enable the company to offer its services to more people in the US. In the press release, the crypto company noted that it would continue to enhance its trading platform and launch new products and services. As a matter of fact, the trading platform promised to roll out a “suite of new products and services…in the short term.” Also, the online exchange firm promises to extend its brand more widely as it offers crypto education.
Binance believes that the recent financing signifies an important moment for the company as it empowers people to maximize the use of money. Speaking of its achievements since the year started, the crypto company said it had broadened its offerings. It also boasts of its low fees charges for its trading services. Binance.US revealed that it supports more than 85 cryptocurrencies and over 190 trading pairs.
While announcing the seed round, Binance US CEO Brian Shroder also mentioned some of the company’s accomplishments. He stated that the US arm of the crypto exchange company had seen significant growth in less than three years. In his speech, he referred to Binance.US as one of the world’s most technologically advanced trading platforms. Shroder continued:
“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.”
Furthermore, he showed appreciation to the investors who have contributed to the funding round. An executive at one of the investing companies, Foundation Capital General Partner Angus Davis said the firm is satisfied with supporting Binance.US. In addition to acknowledging the exchange company as a giant in its field, he said Shroder is a “talented leader.” He confirmed that the Binance.US CEO is working with an experienced management team. Truthfully, Shroder has onboarded notable names and top executive talents since his time with Binance.US. Some of which include Tammy Weinrib as Chief Compliance Officer, Sidney Majalya as Chief Risk Officer, Norman Reed as General Counsel, and Carol Mackinlay as Chief People Officer.