Binance Chief Executive Richard Teng believes that Crypto is the future of money and financial services.
In an interview on The Wolf of All Streets YouTube Channel, Teng out That crypto “needs two elements to get into the game” to enjoy widespread adoption.
“First of all, you need more regulatory clarity. Because for the early adopters people embrace it without clarity. But to get through massive adoption, they must understand that the supervisors are investigating this space, they feel sufficiently protected by massive adoption.
Secondly, you need settings. Because without settings, if it is mainly retail game, the price action will be extremely volatile.
So with more institutions, with more buy-and-hold users and investors with a different time horizon, the price movement will be much less volatile and market capitalization will become much greater over time. “
According to the Binance CEO, an increased crypto consciousness will lead to more individuals and institutions embrace the industry. Teng says that the recent step of Standard Chartered supports its opinion.
Last month, the multinational lender announced That it had introduced a joint venture with other companies to publish a stablecoin linked to the Hong Kong dollar.
Teng explains,
“Stablecoins, for example, you see Standard Chartered as one of the first in terms of traditional financial institutions that say:” I embrace that. “Because it makes perfect sense.
… Crypto is immediately. You can mine stablecoins and send them immediately. It solves so many problems. It is so efficient, it is so cost -effective that financial institutions will embrace different parts of crypto. “
https://www.youtube.com/watch?v=fhk4jvy8me8
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