Binance.US Onboards Former Paypal CFO Jasmine Lee to Lead IPO Efforts

Ahead of its planned Initial Public Offering (IPO), Binance.US is leaving no stones unturned and has onboarded Jasmine Lee as its new Chief Financial Officer (CFO). According to the company’s announcement, Jasmine will lead the IPO efforts which are not expected until the next 2 to 3 years and she brings along a deep wealth of experience from key organizations she has previously worked for.

As revealed, Jasmine served as the Chief Operating Officer (COO) of fintech startup Acorns, and prior to this, she was the CFO and COO for the consumer product group at global payments giant, Paypal Holdings. 

Jasmine’s role at Acorn featured the company’s $2 billion partnership with Pioneer Merger Corp, a Special Purpose Acquisition Company (SPAC) which was initially projected to take the fintech firm public. While the deal fell through, Acorn is now poised to explore the traditional IPO route. 

Jasmine will report directly to Binance.US’s Chief Executive Officer, Brain Shroder and she will oversee the company’s financial operations, accounting, investor relations, treasury, and tax. 

“Jasmine is a rare talent who possesses more than 20 years of deep knowledge in both fintech and high-growth startup environments,” said Brian Shroder in a statement. “Her experience at PayPal, a public Fortune 500 company, in particular, will be invaluable as we chart our path to an IPO in the coming years.”

Binance.US is Advancing on all Sides

Binance.US is growing and meeting up with the competition, especially in the US crypto ecosystem. The exchange recently announced that it has scrapped fees on all its Bitcoin spot trading pairs, a move it said is aimed at establishing its lead as a key leader in the region.

The exchange’s parent company, Binance also revealed earlier this week that it will scrap fees on 13 spot Bitcoin trading pairs in a bid to celebrate its 5 years anniversary. The trading platform said the fee cut will be an indefinite push.

Binance.US is not the first trading platform to eye a US listing. While Coinbase exchange went public on the Nasdaq last year April, other platforms including Kraken are also mulling a listing in the near term.