Binance.US, a platform for the buying and selling of crypto assets in the US, has recently announced one of the biggest seed rounds in the history of the crypto market. The company has raised more than $200 million in its seed round from some of the world’s leading venture capital firms.
The investment round, which saw participation from RRE Ventures, Foundation Capital, Original Capital, VanEck and Circle Ventures, has pushed the valuation of Binance.US to $4.5 billion. With the latest funds, the crypto firm aims to expand its operations in the region.
Additionally, Binance.US is planning to initiate several educational campaigns to bridge the knowledge gap related to cryptocurrency assets. According to the company, it will introduce a new suite of products and services.
“In under three years, Binance.US has grown into a profitable business that is not only one of the largest and most technologically advanced digital asset exchanges in the United States but in the world. From this position of strength, and with an eye toward continuing our rapid ascent alongside the ascent of the crypto industry at large, we are pleased to close our first financing round,” Brian Shroder, the Chief Executive Officer of Binance.US, commented.
"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,” Shroder explained.
Booming Crypto Sector
Crypto adoption is surging. As a result, the valuation of crypto trading platforms is skyrocketing. Being one of the biggest crypto markets in the world, the US presents a massive opportunity to global digital asset trading platforms. Earlier this year, FTX US secured $400 million in its Series A funding round with a valuation of $8 billion.
