As global financial institutions increasingly accept cryptocurrencies, traditional investors and financial institutions are expected to enter the market more.
Chino explained that the boundaries between âtraditional financeâ and âblockchain technologyâ are gradually fading, noting that the rapid development of cryptocurrency technology and its effective applications in cross-border payments will constitute a pivotal innovation in the financial industry.
Teng predicted that over the next ten years, most companies in the traditional financial sector will move towards blockchain technology to achieve more efficient operations, reduce costs, and benefit from the security and stability advantages provided by this technology.
Focusing on Binanceâs expansion in Japan, Teng stressed that Japan is a strategic market for the company.
During a press conference at WebX, Chino explained that Binance Japan currently supports 53 cryptocurrencies, and seeks to increase this number to more than 100 currencies by the end of 2024.
He pointed out that Binance Japan hopes to introduce new cryptocurrencies that meet the needs of the Japanese market, especially local projects, and promote them on Binanceâs global platform to be a bridge to the international market.
Chino also stressed that the main goal of Binance Japan is to increase the trading volume in Japanese yen to compete with major players in the Japanese market.
