Binance.US raises $200 million in its first seed funding round led by Fundamental Labs. The funding valued Binance.US at US$4.5 billion.
Binance.US is one of the most popular cryptocurrency exchanges in the US, and it ranks among the top exchanges worldwide in terms of trading volume. Forbes named it the Best Overall Crypto Exchange for the years 2021 and 2022. Binance.US has some of the lowest fees in the business and gives safe and secure access to over 85 of the world’s most popular cryptocurrencies.
The crypto exchange plans to use the funds to improve its spot trading initiative, launch a new suite of products and pay for marketing and educational efforts.
Apart from Fundamental Labs, the funding round attracted several early-stage venture capitalists and crypto-native firms, including RRE Ventures, Foundation Capital, Original Capital, VanEck and Circle Ventures.
Henry Love, Fundamental Labs Managing Partner, commented:
“We are thrilled to be a key contributor in Binance.US’s ongoing growth story. The potential for an innovative and reliable platform like Binance.US to be successful in this market was an attraction, however the steps the company has been taking to be a regulated and compliant platform factored significantly in our investment decision.”
Today, there are more than 85 tokens and 190 trading pairs available on Binance.US. Having granted regulatory approval in two more states this year, Binance.US is now available in 45 states and 8 territories.
Binance.US CEO, Brian Schroder, said:
“It’s important for us to have an influential and industry-native venture capital firm such as Fundamental Labs participate in our first seed funding round. Henry and his team bring vast industry expertise with a global footprint, and we are thrilled to have them be a part of this journey with us. The fundraising enables us to accelerate our expansion, add new product offerings and begin to market for the first time.”
