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Binance Ends 2023 with 30% User Growth, Committed to Compliance and Web3 Products
In its 2023 year-end report, Binance, a leading name in the world of cryptocurrency, reflected on the year, detailing multiple achievements alongside industry trends. The report - "State of The Blockchain: Binanceâs 2023 in Review" - brings out essential numbers and narratives, placing them within the broader crypto and blockchain industry context.
Despite 2023 being a challenging year for cryptocurrencies, Binance stayed committed to creating valuable products and fortifying the Web3 infrastructure. The company managed to add a whopping 40 million new users, marking an approximate 30% increase from the previous year.
Amidst wider industry trends, Binance also played a pioneering role, consistently working towards meeting user needs while building global trust in digital assets. In a significant move, the company reached a milestone agreement with U.S. regulators, enabling it to set up an extensive compliance program and transitioning into a compliance-focused organization.
Binance's efforts in the realm of user-centric online experience and blockchain's potential culminated in a strong growth of user registrations and wide adoption of services designed for real-world use cases and increased Web3 accessibility. By 2023-end, Binance amassed 170 million registered users and offered 1785 trading pairs across 431 different assets.
Binance Pay, riding the wave of crypto payment boom, saw its active user base grow by 20%. The increased adoption was backed by over 3,500 new Pay merchants and partners globally accepting cryptocurrency for goods and services.
Moreover, in response to the demand for an engaging Web3 social experience, Binance evolved its Feed into Binance Square, creating a gateway into the rich universe of Web3 content. From just 1,200 creators and less than 700,000 active daily users, Binance Square ballooned to a community of 11,000 creators and 1.6 million active daily users by the end of the year.
Sustainability was also a key focus, with Binance investing $213 million in compliance technology, processes, and talent - a 35% increase from the previous year. This commitment to tightened regulation led Binance to hold licenses in 18 jurisdictions globally, more than ever before.
With a plan to make Web3 more accessible, the launch of Binance Web3 Wallet was particularly noteworthy. Integrated into the Binance app, the self-custodial wallet allowed users to manage their crypto funds, implement token swaps across multiple chains, earn yields, and interact with an array of blockchain platforms.
Despite these commendable figures, Binance considers its greatest achievement to be the user trust it managed to preserve and reinforce. With users being the fundamental focus, the company stayed committed to advancing the freedom of money globally.
Despite 2023 being a challenging year for cryptocurrencies, Binance stayed committed to creating valuable products and fortifying the Web3 infrastructure. The company managed to add a whopping 40 million new users, marking an approximate 30% increase from the previous year.
Amidst wider industry trends, Binance also played a pioneering role, consistently working towards meeting user needs while building global trust in digital assets. In a significant move, the company reached a milestone agreement with U.S. regulators, enabling it to set up an extensive compliance program and transitioning into a compliance-focused organization.
Binance's efforts in the realm of user-centric online experience and blockchain's potential culminated in a strong growth of user registrations and wide adoption of services designed for real-world use cases and increased Web3 accessibility. By 2023-end, Binance amassed 170 million registered users and offered 1785 trading pairs across 431 different assets.
Binance Pay, riding the wave of crypto payment boom, saw its active user base grow by 20%. The increased adoption was backed by over 3,500 new Pay merchants and partners globally accepting cryptocurrency for goods and services.
Moreover, in response to the demand for an engaging Web3 social experience, Binance evolved its Feed into Binance Square, creating a gateway into the rich universe of Web3 content. From just 1,200 creators and less than 700,000 active daily users, Binance Square ballooned to a community of 11,000 creators and 1.6 million active daily users by the end of the year.
Sustainability was also a key focus, with Binance investing $213 million in compliance technology, processes, and talent - a 35% increase from the previous year. This commitment to tightened regulation led Binance to hold licenses in 18 jurisdictions globally, more than ever before.
With a plan to make Web3 more accessible, the launch of Binance Web3 Wallet was particularly noteworthy. Integrated into the Binance app, the self-custodial wallet allowed users to manage their crypto funds, implement token swaps across multiple chains, earn yields, and interact with an array of blockchain platforms.
Despite these commendable figures, Binance considers its greatest achievement to be the user trust it managed to preserve and reinforce. With users being the fundamental focus, the company stayed committed to advancing the freedom of money globally.
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