(FT) Binance CEO Changpeng Zhao is in talks with sovereign wealth funds to allow them to take a stake in the crypto exchange to offset adverse regulatory moves.
Zhao believes that bringing on board the sovereign wealth funds would improve the relationship with various regulators.
The Binance CEO says the process of soliciting sovereign wealth funds will not be a short process, as he confirmed that the exchange will only tie itself with specific countries.
The attempt to lure wealth funds comes when Binance is seeking to establish its global headquarters, with Dubai and Singapore among the candidates.
Regulators across the world have pounced on Binance, with some such as the UK Financial Conduct Authority saying they are unable to supervise the exchange. Zhao has insisted that Binance is fully compliant with checks in place, with the CEO meeting governments to discuss regulation.
BNBUSD is up +1.58%.
