Binance CEO Changpeng Zhao recently told the South China Morning Post that the time has come for financial institutions to join crypto.
According to Zhao, the largest crypto exchange is attracting an increasing number of institutional investors.
Binance CEO explained that traditional financial services firms and traditional venture capital investors are joining the cryptocurrency space:
They don't move all their money 100% immediately, but they are watching.
Zhao predicts that crypto could have many previously unimaginable use cases. Saying that Binance's NFT team is in talks with many creators, CZ believes the market for non fungible tokens will be "huge."
While addressing recent regulatory restrictions, CZ said that Binance needs to have a headquarters in order to work with regulators:
When we ran a centralized exchange, we realized that we needed a centralized presence to work well with regulators.
According to Zhao, Binance, as one of the leaders in this space, has to be prepared for regulatory change.