During the CEO Connect: June Edition AMA with Binance CEO Richard Teng, when asked about decentralized finance (DeFi) and the evolving role of centralized exchanges in a future increasingly leaning toward DeFi, he responded that the significant traction DeFi has gained is a positive development for the entire crypto ecosystem.
He also said: “Centralized exchanges will continue to play a vital role, especially because DeFi, in its current form, is not yet accessible to everyone. While crypto natives and more experienced users may navigate DeFi with ease, many people still prefer the convenience, security, and user-friendly interfaces that centralized platforms provide.
At Binance, we’re adapting to this evolving landscape by building bridges between CeFi (centralized finance) and DeFi. For example, the launch of Binance Wallet and Binance Alpha offers users a seamless entry point into Web3 and DeFi, allowing them to explore decentralized finance while still benefiting from the ease of use and support that centralized platforms offer. We see CeFi as a crucial bridge connecting traditional finance and DeFi, facilitating the flow of assets and users between these worlds.”
