Main navigation

Binance CEO Says Financial Institutions Are Coming "Big Time"

News
Thu, 09/16/2021 - 06:05
article image
Alex Dovbnya
Binance CEO Changpeng Zhao claims that crypto is gaining more traction with traditional financial institutions
Binance CEO Says Financial Institutions Are Coming "Big Time"
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Binance CEO Changpeng Zhao recently told The South China Morning Post that financial institutions are coming “big time.”

The largest crypto exchange is seeing an increasing number of institutional investors, according to Zhao.      

The Binance boss adds that traditional financial services firms and traditional venture capital investors are joining the cryptocurrency space:

They are not moving all of their money 100 percent right away…but they are looking at it.      

Related
World’s Largest Movie Theater Chain to Start Accepting Ethereum, Litecoin and Bitcoin Cash

Zhao predicts that crypto may have many use cases that were unimaginable before.

He believes that the non-fungible token market will be “very sizable,” claiming that Binance’s NFT team is in talks with many creators.

While addressing the recent regulatory clampdown, CZ said that Binance had to have a headquarters in order to work with regulators:   

As we run a centralized exchange, we have come to realize that we need to have a centralized entity to work well with regulators.

According to Zhao, Binance, as one of the leaders in the space, has to be prepared for the regulatory shift.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.