Binance.US Raises Over $200M in Seed Funding; Valued at $4.5 Billion

Binance.US, a San Francisco, CA-based provider of a digital asset exchange and marketplace, raised over $200M in Seed funding at a $4.5 Billion valuation.

Backers included RRE Ventures, Foundation Capital, Original Capital, VanEck, and Circle Ventures, Gaingels and Gold House.

The company intends to use the funds to enhance its spot trading platform, develop a suite of new products and services to be introduced in the near-term, and invest in marketing and consumer education initiatives.

Launched in 2019 and led by CEO Brian Shroder, Binance.US is a large digital asset exchange offering trading features, with the ability to process 1.4 million orders per second, all while maintaining compliance and security structures. Today, there are more than 85 tokens and 190 trading pairs available on Binance.US. To date in 2022, it has launched in two new states, Connecticut and Louisiana, bringing the total number of states and territories where the platform is available to 45 and 8, respectively, and continues to work closely with the remaining state regulatory agencies to secure approvals so it can offer its services across all U.S. states and territories. The company has also this year secured Money Transmitter Licenses in West Virginia and Wyoming.

Since the appointment of Mr. Shroder as Chief Executive Officer in October 2021, the company has doubled its workforce headcount and has bolstered its leadership team with several senior hires, including Sidney Majalya as Chief Risk Officer, Norman Reed as General Counsel, Tammy Weinrib as Chief Compliance Officer, and Carol Mackinlay as Chief People Officer.