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Binance is in talks with wealth funds, starts 4th unit in Ireland



Binance is in initial talks with a number of sovereign wealth funds to invest in its global entity, founder and CEO Changpeng Zhao said in an interview with the Financial Times today . He did not name any specific funds.

According to Zhao, the participation of sovereign wealth funds in his company would improve the perception of the world's largest crypto exchange by the regulators worldwide. He added with some caution:

It could also bind us to certain countries ... which we want to be a little careful about.

Binance has already been scrutinized by regulators in countries like Japan, the UK, Canada, Singapore and South Africa.

Binance US closes millions of dollars in pre-market financing

Over the next few weeks, Binance's US unit will close a "few hundred million" pre-listing financing, Zhao added. Binance is also trying to establish a global headquarters, making a 180-degree turnaround from its decentralized operating model.

Investor concerns thwarted an earlier attempt to finalize the financing. The New York Times reported that investors were concerned about Binance US's independence from its parent company.

Fourth branch in the tax haven of Ireland

The crypto exchange has a fourth legal entity registered in Ireland, the Irish Independent reported. Binance is considering Ireland as the location for its global headquarters, Zhao confirmed to Reuters in October. The CEO said his company is ready to "settle down" after years of decentralized operations to alleviate compliance issues.

Binance already has three companies in Ireland. The newest company is called Binance Exchange (Ie). However, there is never anything certain. In November, CEO Zhao spoke about plans for an office in France in an interview with Les Echos:

France would be a natural choice for regional and perhaps even global headquarters.

Global companies like Google and Apple prefer Ireland as the location for their European offices because taxes are relatively low there. However, the country will increase it from 12.5% ​​to 15% in the near future. Currently, corporate tax rates are among the lowest in the world.

Binance opens up to crypto-friendly jurisdictions

Binance is actively communicating with regulators around the world, assured the charismatic CEO. He cited the United Arab Emirates, France, and Singapore as examples of crypto-friendly countries. The location of the future headquarters has not yet been decided.

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