Binance, the world’s largest virtual asset exchange, says it remains committed to innovation in 2021 in a “decentralized” world.
Binance CEO Changpeng Zhao or CZ shared their mind and mind about 2020 and the company’s goals for the new year. Zhao also commented on the latest crypto trends and advancements that can only outline the nascent industry and discussed the key gaps for 2021.
Binance showed that it continues to aim to “advance the collective industry project to publicize freedom around the world. ” The crypto exchange said it aims to “ensure the sustainable progression and continued expansion of the global crypto ecosystem. “
Zhao noted that in his New Year’s message for 2020, he had “focused on building the foundation for the expansion of the global crypto ecosystem for generations to come. ” In the past year, Binance had worked hard to introduce products, enhancements, and advancements similar to “key ecosystem initiatives,” Zhao added. He also commented that it was like “we are still working in the basement of a new construction and we haven’t even started building the upper floors yet. ” Think that there are still many paintings to do.
Zhao claimed that the coronavirus crisis has radically replaced the way we live, “affecting the well-being of countless people and damaging the global economy. “
He continued:
“In 2020, global markets faced unprecedented volatility and instability in already vulnerable economies and countries. With global economic uncertainties, inflation, and classic assets suffering from the macroeconomic surprise caused by the pandemic, other people around the world are turning to Bitcoin and cryptocurrencies as an asset of choice, in an invalid way. previous. This has taken the crypto market to new heights and allowed bitcoin / crypto to enter the mainstream.
Over the next year, interest in virtual assets has continued to grow among investors in the classic money sector, and the number of business integrations has also continued to increase, Zhao wrote in a blog post. the end of the year. Last year, the number of institutional investors onboarding Binance was 68% higher than in 2019, while new institutional applications grew 35% quarter-over-quarter, “indicating the development of institutional interest in cryptocurrencies,” it revealed Zhao.
The COVID-19 crisis has also led to “drastic macroeconomic changes, such as quantitative easing (QE) in almost each and every country, which is also pushing other people to cryptocurrencies,” Zhao states.
He predicted:
“As new QE cash enters the global market, I think a large part will be shifted to some form of cryptocurrency or another. This coincides with the boom in the 2020 crypto futures market, which provides hedging and liquidity opportunities. “
He also commented that the long-term economic effects of the coronavirus are still “unknown. ” But as we are still in the midst of a severe economic crisis and record degrees of volatility, Zhao believes that Bitcoin and other crypto assets will continue and be “on top of positive change. “
Sharing Binance’s compliance targets, a domain the company doesn’t appear to have taken seriously (given several caveats from regulators), Zhao said:
“Our purpose is to continue complying with local regulations and regulations, which allow us to protect and offer the most productive to our users, as well as to drive greater adoption. In addition to the many responses from Regtech we invest in and the compliance partners we work with, we will continue to work hard with regulators, complying where we function as a global decentralized organization and helping to definitely influence regulations that will gain advantages for our industry. . “
Continuing to comment on the nascent DeFi industry, Zhao said:
“In 2021, I think we will see more convergence in product offerings on the CeFi (centralized finance) front. We have already expanded our portfolio of performance-generating products to include the Binance Pool (for miners) and Earn (for all users) products, which offer a superior APY in addition to an easy-to-navigate one-click interface – cut technical hurdles. access and prices of fuel rates in the chain. Basically, DeFi and CeFi will expand the industry. “
Added:
“In 2021, we will continue to keep our heads down and create products that other people love. We will continue to expand facilities that obtain benefits for society and shield our users and industry. “