Binance.US, an offshoot of the world’s largest crypto exchange, just raised $200 million to steal market share in the U.S.

Founded in 2019, Binance.US is the lesser-known brother of the world’s largest crypto exchange, Binance. The offshoot was created to serve as a separate, regulated, and licensed entity in the U.S., where regulatory constraints prevent Binance from operating.

Binance.US CEO Brian Shroder told Coins2Day the exchange’s latest funding round will be used for marketing, hiring, and potential future acquisitions.

“Every dollar that we earn will be invested back into the business,” Shroder said.

The fundraising, which attracted investors like RRE Ventures, Foundation Capital, Original Capital, VanEck, and Circle Ventures, will also help Binance.US on its road to an initial public offering, which Shroder said could come as soon as two or three years from now.

Before the company goes public, however, Shroder said he wants Binance.US to focus on improving its product offerings and promoting its name.

Shroder plans to use the $200 million in fresh funds to double the staff on Binance.US’s 100-person product and tech teams, as well as expand Binance.US’s product portfolio beyond the simple spot trading service that it currently offers. The company also wants to ramp up its marketing efforts.

“In the last two years that we’ve been in existence we have grown organically,” Shroder said, noting that when he was hired as CEO last October, Binance.US had a marketing department of one. “We have never done advertisements outside of app store downloads.”

Going forward, the company will focus on promoting its advantages to consumers, especially its fee of 0.1% on crypto trades—a lower cut than what rivals like Coinbase and eToro take, Shroder said. But because of its name, the company’s connection to Binance is often front and center of public interest.

Binance has come under fire from regulators worldwide, especially in the past year, as the Cayman Islands–registered exchange faces accusations of withholding information from regulators and performing lax checks against money laundering. 

The controversy facing its brother company has not prevented investor interest in Binance.US, Shroder said, claiming the company’s shares are “actually in an oversubscribed situation right now.”

As the company grows and plans to establish a presence in all 50 states by the end of the year, Shroder said he is focused increasingly on beating out the competition—especially Coinbase, the biggest crypto exchange in the U.S., with more than 89 million users and $547 billion in quarterly trading volume.

“Coinbase has an eight-year head start on us, and so we are quite pleased with the traction that we have gotten in the last two years alone,” Shroder said. “I think that this round will help us accelerate it.”