The CEO of cryptocurrency exchange Binance, Changpeng Zhao, has said his platform has witnessed a surge in the adoption of cryptocurrencies over the past months, as well as the institutional adoption of bitcoin.
In an interview with Bloomberg, Zhao commented that “a lot more institutions are coming in” to trade, and typically, such buyers “trade much larger sizes”. These may include banks, credit unions, insurance companies and hedge funds.
“The total size of the user base is growing very rapidly [at Binance], especially in the last year,” he added.
Binance, which the CEO founded in 2017, has become the largest cryptocurrency exchange globally in terms of trading volume. In 2020, the company announced its average daily trading volume amounted to $3.88 billion, a 36 per cent increase compared to 2019.
Last year, Bianance said it considered “2020 as the tipping point when Bitcoin and crypto transformed from an upstart, experimental technology for exchanging value into a globally-recognized rethinking of the global financial system,” as reported by Financemagnates.com.
“We saw an influx of institutions and major companies who ventured into crypto as a major part of their strategies. We also saw a world that’s suddenly more conducive to remote work and mobile payments, which encourages more crypto adoption.”
Laferla announces new management roles and structure shakeup
It announced three new managers, two team leaders and two executives.
Soft2Pay appoints CEO and Head of Risk and Compliance
Both expressed enthusiasm for joining and collaborating with the team at Soft2Pay.
Halmann Vella celebrates successful €23 million bond issue with ‘ringing of the bell’ ceremony
Halmann Vella marks a significant milestone while celebrating its 70th anniversary.
Top 10 skills needed for business services and admin managers don’t include time management or Maltese
Having the ability to adapt to change and working in teams remained the top skills required across the board.
