Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange Binance, made an interview with The South China Moning Post. In the interview published today, CZ made statements on many topics from regulator pressure on Binance to the interest of institutional investors in cryptocurrencies.
As the reason they set up a centralized exchange, “we realized that we needed a centralized presence to work well with regulators. The CEO stated that they prepared themselves against the pressures from the countries.
“As the biggest player in the industry, we need to prepare ourselves for change. We are making changes to make it easier to work with regulators.”
CZ cited many former regulators hired as examples of Binance’s approach.
Talking about financial institutions’ interest in Bitcoin and cryptocurrencies, CZ said they “have already understood the value of this space.”
“Financial institutions are coming in in a big way. We see some big names bringing their traditional financial services into this space. They understood the value of this space and started joining the cryptocurrency caravan, with Bitcoin as their primary interest.”
Stating that digital assets will play a major role in the future monetary network, the CEO said, “financial institutions see Bitcoin as an investment tool, but it is still difficult to predict exactly where digital assets will be in the economy in the future.” said.