The world's largest cryptocurrency exchange, Binance, has appointed Stephen Gregory as the chief executive officer (CEO) of its U.S. affiliate, Binance.US.

 

On Tuesday, March 11, Binance.US announced the appointment of compliance lawyer Stephen Gregory as CEO of the exchange. Stephen will take over from Norman Reed, who, according to the exchange, is stepping down to serve in an advisory role.

 

“I am honored to lead the Binance.US team as we write the next chapter for what we believe is the best platform for U.S. crypto investors to buy, trade, and earn digital assets,” Stephen said. “The Binance.US brand is extremely powerful, with a founder, Changpeng Zhao (CZ), who has continuously advocated for making the U.S. the crypto capital of the world,” he added.

 

Norman, the former Binance.US CEO, also expressed confidence in Stephen. “As we look to the next phase of growth for Binance.US, Stephen brings an entrepreneurial approach to leadership that I am confident will deliver for our customers in a meaningful way,” Norman said.

 

 

About Stephen Gregory

Stephen is a lawyer with nearly two decades of experience in the compliance industry. Before entering the crypto and fintech sectors, he worked in the U.S. Senate as a staff member for Senators Paul G. Kirk and Ted Kennedy and held roles at other government-affiliated agencies.

 

He later transitioned into private practice, working as a litigation and regulatory law expert for several law firms, including D'Ambrosio Brown LLP, McCormick & O'Brien LLP, Quinn Emanuel Urquhart & Sullivan, and Gage Spencer & Fleming LLP.

 

Entering into Crypto

In 2016, Stephen entered the crypto industry as a compliance officer at Gemini, where he helped the exchange navigate regulations and secure licenses for its U.S. crypto operations.

 

He did, however, move up the ranks in the compliance industry, serving as Chief Compliance Officer at crypto exchange CEX.IO, where he led the company’s global compliance program and oversaw its regulatory frameworks, including Anti-Money Laundering (AML) and Know Your Customer (KYC) programs.

 

In 2021, Stephen joined Currency.com as CEO, where he led the exchange’s U.S. operations, oversaw regulatory strategy, and expanded its services in the United States before its acquisition by CXNEST Ltd in May 2025.

 

 

Kast, a stablecoin payments company, has raised $80 million in a Series A funding round co-led by QED Investors and Left Lane Capital, bringing its valuation to $600 million.

 

According to the team, the funding will be used to accelerate Kast’s global expansion across North America, Latin America, and the Middle East, as well as to expand the company’s workforce, licensing, and product development efforts.

 

 

What Kast is Building

Kast is a stablecoin-powered neobank founded in 2024 by Daniel Bertoli, an ex-partner at Quona Capital, and Raagulan Pathy, a former executive at Circle Internet Financial, the company behind the USD Coin (USDC) stablecoin.

 

To reduce the delays and high costs often associated with international remittances through traditional banking systems, Kast is building a blockchain-based platform that uses stablecoins as its settlement layer. 

 

According to the team, “Our end game is clear: to become the leading neobank for the stablecoin economy, serving both users and businesses.” 

 

To ensure that users and businesses of all sizes are catered to, Kast has built a platform that allows users to create digital dollar accounts. These accounts enable users to store dollars digitally, send money globally, and receive international payments. As a result, users do not need a U.S. bank account to hold dollars digitally. 

 

Since its launch in 2024, Kast has achieved a number of impressive milestones, including:

- Reaching over 1 million users on its platform.

- Processing about $5 billion in transaction volume to date.

- Enabling users to send money to more than 190 countries. 

 

This funding marks Kast’s second fundraising round, months after the company raised $10 million in December 2024 in a round led by HongShan Capital Group and Peak XV Partners.

 

 

The Surge of Stablecoins in Institutional Remittances

With a market cap of over $300 billion, stablecoins have seen a remarkable increase in institutional use for cross-border payments. 

 

According to a stablecoin report, enterprise cross-border stablecoin transaction volume grew threefold year over year in 2025, with 25% of corporates now using stablecoins for supply-chain payments, particularly for trade settlement, treasury transfers, and gig-economy payouts. 

 

This increased adoption is due to the very fast settlement times of stablecoins, usually less than 24 hours, a sharp contrast from traditional banking systems, which often take days.

 

Based on current adoption trends, stablecoins are projected to capture 10 to 15% of global cross-border payments by 2030, with their annual settlements reaching approximately $5 trillion by the end of this year.