Binance Blockchain Week: Crypto is fast becoming the global infrastructure layer, says CEO Richard Teng

Binance CEO Richard Teng

Binance CEO Richard Teng on December 3 said with the growing regulatory clarity around the world, crypto has industry has grown multi-fold in the past one year, and will soon becoming the “global infrastructure layer.”

Sharing updates on Binance’s growth at Binance Blockchain Week 2025 in Dubai, he shared that Binance Pay’s merchant base grew from 12,000 in the beginning of the year to close to 21 million at present, while it has processed over 272 billion transactions.

Teng said, “Crypto is fast becoming the global infrastructure layer… Crypto trading is booming too. So spot volume on centralized exchange is expected to hit a four-year high. If you look at perpetual DEX (decentralised exchange) volume, it reached 1.3 trillion in October alone on that front. Stablecoin market cap is up close to 50% this year.”

He added, “The US has gone from being anti-crypto to wanting to become the crypto capital of the world. It's not only large economies making this move, smaller countries are leading the way too. Take Bhutan, for example, which is pioneering crypto tourism with a determined vision of national-scale crypto adoption. Clear regulation will bring more trust and adoption to the industry.”

Co-founder Yi He appointed as Co-CEO

Teng announced that Binance Co-founder Yi He will be joining him as the Co-CEO of the platform as it near 300 million users.

As the co-founder, He has been critical to Binance’s expansion and leadership since its launch. Now as the company aims to reach a billion users, He will be responsible for community building and product innovation.

“Her innovative and user-focused approach has been instrumental in shaping the company’s vision, culture, and bottom-up business strategy. This appointment is a natural progression and she will continue to guide the organization from strength to strength,” said Teng.

Binance Blockchain Week is happening on December 3 and 4. The world’s largest crypto platform is bringing up a strong lineup of speakers, including Giggle Academy founder and Binance Co-founder Changpeng Zhao (CZ), Strategy Inc executive chairman Michael Saylor, Ripple CEO Brad Garlinghouse, Solana Foundation President Lily Liu, Stockbroker Peter Schiff, among others.

Binance launches kid-focused offering

In an interesting move, Binance has launched a crypto savings account for kids and teens aged between 6-17 years. This offering will be completely parent-controlled and a sub-account allowing parents to open and manage crypto savings accounts on behalf of their children.

Binance Junior will let young users save and earn crypto in the account through Binance Flexible Simple Earn, while restricting trading activities to ensure safety.

“As crypto becomes increasingly integrated with mainstream finance, this new product aims to provide young users with a strong foundation in personal finance and digital asset education, promoting long-term financial literacy and readiness for the evolving economic landscape,” the company said in a statement.

“Children, our future is important that we nurture their future in terms of digital finance infrastructure and digital finance future. And this is a family-centric platform for us to do that,” Teng said.