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Binance.US, the US branch of the well-known crypto exchange, has set an ambitious goal of capturing a fifth of the US market. CEO Stephen Gregory told CoinDesk. He explained that achieving this goal will be based on three pillars: reducing fees to the lowest possible level, expanding the product offering, and actively attracting private investors. Furthermore, Binance.US management is considering obtaining a trust banking license from the Office of the Comptroller of the Currency (OCC), which would significantly strengthen the company's regulatory position and increase the trust of large investors.

Gregory emphasized that Binance.US is a completely independent entity, having nothing in common with the global Binance other than a shared brand and ultimate owner. The American branch's operations, legal aspects, and client base are completely separate. He acknowledged that there have been difficulties in the past due to investigations involving the parent company, but assured that those days are behind him. Furthermore, Gregory believes the current market situation is an ideal time for growth and innovation, as the market is at rock bottom.

Regarding how the company will be able to generate profit with such low fees, Gregory noted the availability of other revenue streams and the high degree of optimization of Binance.US's internal processes. He cited the ability to attract significant amounts of capital to the US market, which the global exchange has accumulated outside the US, as an important factor. This, in turn, ensures high liquidity, which is critical for both small and large traders.

It's worth noting that the history of Binance.US has been far from straightforward. In June 2023, the US Department of Justice launched an investigation into Binance, a global exchange, on charges of inadequate anti-money laundering measures, sanctions violations, and operating without a license. By November of that year, the company had settled with authorities, paying a $4.3 billion fine. As a result, the exchange's founder, Changpeng Zhao, resigned as CEO and chairman of the board of directors of Binance.US, leading to staff reductions at the US division. The US Securities and Exchange Commission (SEC) later filed a lawsuit, but ultimately found no wrongdoing in Binance.US's operations.