![[2025 World Knowledge Forum] Future assets, power of virtual currency / Richard Teng, CEO of Binance, Park Sun-young, professor at Dongguk University. 2025.9.9 [Reporter Han Joo-hyung]](https://wimg.mk.co.kr/news/cms/202509/14/news-p.v1.20250909.d86d484c9d334e829fb8f6bef4970a75_P1.jpg)
“With the U.S. ambition to become the global virtual asset capital, Binance is also clearly benefiting, with extra customers.”
In a current interview with Maeil Enterprise Newspaper, Richard Teng, CEO of Binance, stated, “President Donald Trump is an individual with a imaginative and prescient for virtual property.” CEO Teng participated in the “2025 World Data Discussion board” held at Jangchung Enviornment in Jung-gu, Seoul on the ninth.
Binance is the world’s largest alternate, accounting for greater than half of the world’s virtual asset buying and selling quantity. Though the founders, Changfeng Zhao and Hei, are each of Chinese language descent, they’re formally stateless exchanges. “Binance’s benefit is not to be certain by borders,” Teng stated. “Binance needs to assist any authorities, establishment, or web3 technician by way of partnerships.”
Binance suffered from the arrest of founder Changpeng Zhao on cash laundering costs by the U.S. at the finish of 2023. Nonetheless, after President Trump’s election, the cooperative relationship is strengthening. Binance was the first to checklist “USD1,” a stablecoin issued by the Trump household’s Depi undertaking World Liberty Monetary (WLFI), and helps USD1 as a buying and selling reserve foreign money.
“Trump has modified the scenario of the U.S. virtual asset trade by 180 levels,” Teng stated. “He confirmed clear laws equivalent to the Genius Act and the Readability Act and confirmed a virtual asset-friendly angle.”
He also stated, “The U.S. forward-looking angle has created robust virtual asset revival momentum, together with the emergence of economic firms that strategically purchase varied Bitcoin and Ethereum in addition to Solana and Binance Chain. Binance also had about 170 million customers in 2024, nevertheless it has benefited from the improve to 290 million in a 12 months and a half.”
He predicted that virtual asset exchanges will present extra energy in the scenario the place conventional finance equivalent to exchange-traded fund (ETF) merchandise has just lately entered the virtual asset market and has to compete. CEO Teng stated, “ETF is entrance for individuals who don’t perceive virtual property,” however added, “ETF is clearly totally different from virtual property which might be traded 24 hours a day as a result of they’re traded just for a sure time throughout the 5 days of the week.”
As well as, he stated, “Over time, ETF buyers will also know the plentiful liquidity and buyer administration of virtual asset exchanges equivalent to Binance,” including, “Even establishments will ultimately select Binance.”
Relating to stablecoins, he stated, “Stablecoins are anticipated to develop as they are often paid in a short time with out interruption,” including, “Binance is making an attempt to cooperate with each global and regional companions.”
Binance offers a fee service referred to as ‘Binance Pay’. “Virtual property remedy many issues that conventional funds can not remedy,” he stated. “Even in nations the place there is no fee system and banking, virtual asset funds may be made 24 hours a day.”
He also stated, “We labored with the Bhutan Tourism Authority to present Binance Pay to vacationers,” including, “As we traveled, virtually all funds had been made with Crypto, so we had been in a position to present simpler funds.”
Lastly, he stated, “Korea is a rustic with a dynamic and ever-changing financial system and passionate virtual asset believers,” including, “I’m effectively conscious of Korea’s ambitions by way of virtual property, and I would like to assist and be collectively.”
