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SCB 10X Full Q&A | Binance Founder Changpeng Zhao Interviewed: Binance US is exploring the IPO path

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SCB 10X Full Q&A | Binance Founder Changpeng Zhao Interviewed: Binance US is exploring the IPO path

SCB 10X is a subsidiary of Siam Bank in Thailand aimed at promoting technology innovation and investment. Today, the Chief Investment Officer of SCB 10X interviewed Changpeng Zhao (CZ), the founder of Binance, who also revealed that Binance US is seeking to pursue an IPO.

Binance Actively Engaged in Compliance, Binance US Seeks IPO

Zhao Changpeng stated in an interview that there are increasing regulatory sanctions, and more can be expected in the future. Binance's mindset is shifting from a tech startup to a financial services institution. Communication with regulators worldwide and localization are also necessary.

Zhao Changpeng also mentioned that Binance's US arm, Binance US, is seeking an IPO listing, and for regulators in general, they are accustomed to seeing a headquarters and corporate structure, which Binance is working to establish to make an IPO more likely.

However, he emphasized that there are currently no immediate plans for an IPO, and the focus remains on corporate growth.

Other Q&A

How do you view the overall cryptocurrency market?

New applications of DeFi, NFTs. There are more users and applications in different scenarios.

How to grow?

Build products that people want to use. However, this will be a long journey.

How are individual regions developing?

China was very active in mining and trading in the past, but now it has shifted to North America. The US has strict regulations on trading, and there are not many emerging exchanges there. Therefore, Asia and Southeast Asia have significant growth potential, and Africa is also a blue ocean for development. Each region will have different strategies.

Is there a particular area you are looking forward to Binance's growth in?

Frequent trading is not suitable for everyone. Gaming, DeFi, NFTs all have great potential. I believe there are still many areas to explore for growth.

What about CeDeFi, centralized DeFi?

I never expected BSC to grow so rapidly. We also have Binance DEX, but BSC is growing faster. CeDeFi provides a centralized user experience to offer the use of DeFi. But we want to be closer to DeFi. BSC is indeed a project originating from the community. We need more developers and projects. BSC already has the largest user base.

How do you view BSC and the coexistence of L1/L2 solutions?

The more scaling solutions, the better. The larger the ecosystem with more participants, the larger it will become. I do not see them as competitors because there is still significant room for growth in this industry.

Some criticize BSC for being centralized?

It is unfortunate that BSC faces such criticism. Most of it is because of the Binance name associated with it, however, decentralization has many aspects. BNB is one of the most evenly held tokens, and BSC is fully decentralized and community-driven.

What are the security measures for BSC?

A large user base also means more attackers and fraudsters. Because it is DeFi, transactions cannot be audited, nor should they be. Binance supports its security by growing the ecosystem. The Binance Ecosystem Fund provides assistance with security audits, and the Binance exchange helps track illegal transactions.

Are institutions adopting BSC's DeFi?

Many have already adopted it, especially in Asia, where many traditional financial experts unfamiliar with cryptocurrencies are participating. Hence, there is still a need for a lot of education. Initially, it was hedge funds, and then other institutions will also join in.