According to Web3 Plus, Binance CEO Richard Teng pointed out at the WebX 2024 exhibition in Japan that 2024 will be a key year for the widespread adoption of cryptocurrencies, and the participation of institutional investors is crucial. Since the beginning of this year, the approval of Bitcoin and Ethereum ETFs has brought more liquidity to the market and attracted different types of investors. Teng predicts that in the next decade, blockchain technology will dominate the middle and back-end businesses of traditional finance, improve efficiency and reduce costs.
In addition, Binance Japan General Manager Tsuyoshi Chino said that Binance Japan's primary goal is to increase the volume of transactions for buying or selling cryptocurrencies with the Japanese yen, and use this as a benchmark to challenge major competitors in the Japanese market. Binance Japan plans to increase the number of supported cryptocurrencies to more than 100 by the end of 2024 and challenge market competitors by introducing local projects.
Chino Tsuyoshi also mentioned that in the future, Binance Japan will have a Binance Pay function that will allow users to pay and transfer cryptocurrencies such as Bitcoin and BNB by scanning QR codes, as well as a Launchpool platform that allows users to obtain newly listed tokens by staking cryptocurrencies. Currently, Binance Japan is working hard to resolve regulatory challenges and launch more diverse products.