Binance, the world's largest cryptocurrency exchange by trading volume, stated that it has processed over $125 trillion in digital assets since its launch in 2017.

In the statement on July 14 marking the eight-year anniversary of the platform's founding, Binance's CEO Richard Teng emphasized the growth and important role of the exchange in shaping the cryptocurrency market.

He stated that the exchange has averaged 217 million spot and futures transactions per day this year. Additionally, the platform currently holds 41% of the global spot trading market share and proudly accounts for 95% of the decentralized wallet market share with integrated trading features.

Beyond trading, Binance has expanded its operations into savings, payments, and financial access.

Teng noted that Binance Earn has generated $50 billion in profits for users since its launch, while Binance Pay has processed $230 billion through 300 million transactions. From 2022 to 2024, this platform has also helped users save $1.75 billion in remittance fees.

He noted:

"Each number reflects the number of people who have truly achieved financial freedom, gained financial independence, and overcome barriers to financial inclusion."

Growing user base

The CEO of Binance also pointed out that the user base of this platform continues to grow rapidly.

On X, Teng revealed that the number of registered VIP users surged by 116%, while the number of institutional clients increased by nearly 97% in 2024.

The exchange recently launched new services such as Fund Accounts and Binance Wealth to meet the growing demands of these sophisticated users. Last week, the exchange introduced Institutional Loans, a product offering leverage up to 4x for verified corporate clients by aggregating balances across up to ten sub-accounts.

Meanwhile, the platform's adoption among retail users remains strong, thanks to the launch of several innovative products such as Binance Alpha, Launchpool, and Pump. The interesting liquidity curve mechanism.

In this regard, Binance has added nearly 80 million new individual users in the past year, bringing the total number of global users to 280 million. If it were a country, Binance would have the fourth-largest population in the world, surpassing countries like Nigeria.

Compliance efforts

Teng emphasized that the company is heavily investing in global compliance efforts, with spending in this area expected to be over 30% higher than last year.

This is particularly necessary as the platform has faced numerous legal challenges and regulatory scrutiny in many jurisdictions over the past years.

The most notable action took place in 2023, resulting in a $4.3 billion fine for the U.S. government and the resignation of founder Changpeng Zhao.