Speaking on the 'Mornings with Maria' program, Binance CEO Richard Teng described the acceptance of cryptocurrencies by countries as part of their strategic reserves as "exciting". Touching on various topics from his trip to Bhutan to new regulations in the United States, Teng noted that global cryptocurrency adoption is accelerating.
Sharing about his visit to Bhutan, Mr. Teng noted that thanks to cooperation with the Bhutan Ministry of Tourism and the local DK Bank, payments with Bitcoin are now available at over 1,000 businesses. Mr. Teng explained that cryptocurrencies are used for various transactions, from accommodation and airline tickets to payments for tour guides and souvenir shopping. "This system is safe, cost-effective, and provides high efficiency for both users and local businesses," he said.
Mr. Teng noted that Bhutan has embraced cryptocurrency not only in terms of usage but also in terms of reserves. He explained that the country started mining Bitcoin with green energy five years ago and now holds a significant amount of Bitcoin reserves. He also explained that assets like Bitcoin, Ethereum, and Binance Coin (BNB) have been included in the strategic reserves in Bhutan's economic zone, GMC.
Mr. Teng also mentioned the developments in the United States: “President Trump is approaching a strategy for future technologies such as blockchain and artificial intelligence. His vision of turning the United States into the center of the cryptocurrency world presents enormous opportunities not only for economic growth but also for high-value job creation and foreign direct investment.”
According to the CEO of Binance, Congress is preparing to vote on new laws related to stablecoins and market structure during the "Cryptocurrency Week" in mid-July, paving the way for a new era in this field. “These developments indicate that the United States is gradually moving away from its previous harsh approach and shifting towards supporting innovation,” Mr. Teng said, adding that establishing a clear legal framework will make responsible innovation feasible.
Teng, who announced that Binance's user base has exceeded 280 million, stated that this growth is largely attributed to institutional investors entering the cryptocurrency market. "Not only individual investors; investment funds, trusts, family offices, and even sovereign wealth funds are showing interest in cryptocurrencies. The global cryptocurrency adoption rate is currently only at 7%, but the next 10% increase will come much faster," he said.
Mr. Teng also referred to a new proposal being introduced in the United States. Under this plan, which is supported by President Trump, organizations such as Fannie Mae and Freddie Mac will consider cryptocurrency assets in their credit analysis process. "The American dream has historically been defined by home ownership," he said. "Incorporating cryptocurrency assets into this process will not only enhance financial accessibility but also promote wider cryptocurrency adoption."
According to Richard Teng, regulatory transparency and political support in the United States will encourage other countries to follow suit. "If the United States leads, the rest of the world will not want to miss this opportunity," he said. "It is now clear that cryptocurrency provides a strategic advantage in economic competition."
The CEO of Binance concluded his speech with the statement: "We are entering a new dawn. Global adoption will accelerate, and cryptocurrency will be integrated into every aspect of life."