{"id":371127,"date":"2021-11-23T12:04:04","date_gmt":"2021-11-23T09:04:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-reportedly-wants-global-wealth-funds-to-get-a-stake-in-exchange\/"},"modified":"2021-11-23T12:04:04","modified_gmt":"2021-11-23T09:04:04","slug":"binance-reportedly-wants-global-wealth-funds-to-get-a-stake-in-exchange","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-reportedly-wants-global-wealth-funds-to-get-a-stake-in-exchange\/","title":{"rendered":"# Binance reportedly wants global wealth funds to get a stake in exchange"},"content":{"rendered":"

“# Binance reportedly wants global wealth funds to get a stake in exchange <\/strong>”
\n<\/p>\n

Binance, the world\u2019s largest cryptocurrency exchange, is reportedly in talks with sovereign global wealth funds to sell them a stake in the company.<\/p>\n

In addition to planned \u201cmega funding\u201d for its United States-based business Binance.US, Binance is now also seeking global funding to improve relationships with regulators, Binance CEO Changpeng Zhao said in a Tuesday interview<\/a> with The Financial Times. <\/p>\n

According to Zhao, the upcoming funding is aimed to improve its \u201cperception and relationships\u201d with many governments as multiple financial regulators around the world have been cracking down on Binance this year.<\/p>\n

\u201cBut it may also tie us to specific countries, which we want to be slightly careful with,\u201d the CEO noted.<\/p>\n

As Binance is currently at the preliminary stages of discussions, it\u2019s still early to disclose the names of wealth funds involved in the capital raising, Zhao said. \u201cThe ticket size involved will not be small. It won\u2019t be a short process.\u201d<\/p>\n

Being the biggest shareholder in Binance, Zhao is one of the world\u2019s richest men in the cryptocurrency industry, with a total net worth estimated at $8 billion as of January 2021. <\/p>\n

According to the CEO, Binance\u2019s daily transaction volumes surged<\/a> up to $170 billion in November 2021 from just $10 billion to $30 billion two years ago. Binance.US, the American business operating separately from the global Binance exchange, is planning to raise a \u201ccouple hundred million dollars\u201d by early 2022.<\/p>\n

Global regulators have been increasingly scrutinizing the Binance exchange this year, with at least a dozen of governments publishing warnings against the firm, including countries like the United States, the United Kingdom, Italy, Canada, Japan, Singapore, Germany and others.<\/p>\n

Related: <\/em><\/strong>Binance continues push to become regulated crypto exchange with new hire<\/em><\/strong><\/p>\n

Binance has taken a number of measures to improve its relationships with global regulators, halting some of its services in certain countries and hiring high-profile executives from traditional finance.<\/p>\n

Zhao reportedly said he was not worried about illegal activity on Binance\u2019s platform because the company was \u201cprobably better than banks\u201d regarding Know-Your-Customer (KYC) and Anti-Money Laundering (AML) policies and measures.<\/p>\n