Binance is in preliminary discussions with “several” sovereign wealth funds about investing in its global entity, Zhao said in a Nov. 23 interview with the Financial Times, declining to name any specific funds.
- Zhao hopes that Binance’s “perception and relationships” with regulators around the world would improve if sovereign wealth funds took a stake in the company, according to the report. “But it may also tie us to specific countries…which we want to be slightly careful with,” Zhao said.
- Binance has been under the regulatory microscope in jurisdictions ranging from Japan to Singapore.
- Binance’s U.S. entity will be closing pre-IPO funding of “a couple hundred million” in the next one to two months, the CEO said last week.
- The exchange is also looking to set up global headquarters, a 360-degree turn from its decentralized operations model.
Read more: Binance US to Close Pre-IPO Funding in 1-2 Months
