Binance US Hires Uber’s Brian Shroder as President Ahead of Potential IPO
Leading cryptocurrency exchange BinanceUS has recently appointed one of Uber’s former top players – Brian Shroder– as president of the company and as a board member. This comes following numerous hints from Changpeng Zhao that the US branch of the leading crypto exchange could become the latest publicly traded company from the digital asset space.
Why Binance Picked Shroder?
As announced by BusinessWire, Shroder will be overseeing the exchange’s corporate development, fundraising, strategy, product functions, and more in his role as president.
Tackling this web of responsibilities is not outside Shroder’s wheelhouse. He most recently spent three years as the Head of Business Development at ANT group – the owners of China’s largest digital payment platform – Alipay – where he focused on expanding the company’s global partnerships.
Before that, he served a similar role as Head of Strategy and Business Development at Uber in Asia, where he successfully built third-party partnerships and raised the company billions of dollars from investors.
Now working at Binance, Shroder believes that the firm has everything it takes to become the biggest exchange in the US:
“In under two years, BinanceUS has established itself as a regulatory compliant, profitable enterprise that serves millions of customers across the country… it is clear to me that BinanceUS has all the right ingredients to become the largest and most successful cryptocurrency and digital asset exchange in the United States.”
Regarding Shroder himself, BinanceUS Chairman Changpeng Zhao (CZ) recognized his experience and placed great faith in the new president’s power to bring the exchange to new heights.
“His substantial experience in strategy, operations, and business and corporate development will be critical as BinanceUS seeks to raise external funds to support its rapid growth. “
Road to IPO
Binance’s recent appointment of Shroder is just one step the exchange is taking to build connections and attract investment to support their long-term growth. The company has other plans to follow Coinbase’s lead and launch an initial public offering (IPO) within the next three years.
They will also be settling a large private fundraising round within the next three months – a move that will reduce Shroder’s control of the board.Source