As the world’s largest cryptocurrency exchange, Binance has set its sights on Thailand as a priority in its mission to make crypto mainstream and reach a one-billion-user goal. Chief Marketing Officer Rachel Conlan revealed that Thailand ranks among Binance’s top 20 markets out of more than 100 countries, with crypto penetration in Thailand reaching 12%, double the global average of 6%. This reflects the country’s proactive stance in crypto regulation and technology.
During the recent Binance Blockchain Week in Dubai, Conlan emphasized Asia’s significance to Binance’s strategy, calling Thailand’s regulatory advancements “pioneering.” These efforts are anticipated to foster industry growth by providing a structured environment for crypto.
“Thailand’s approach to regulation and framework for crypto is forward-thinking and necessary for industry expansion,” Conlan explained, underscoring the importance of market-specific regulatory advancements in shaping global adoption.
Binance’s growth, highlighted by an influx of 60 million new users in the past six months, stems from heightened public interest, institutional involvement, and recent regulatory strides like the approval of crypto exchange-traded funds (ETFs). From Binance’s perspective, the term “mainstream” implies a 20% global penetration rate, with one in five people worldwide using crypto. Conlan suggests this milestone could be achievable within the next three years.
CEO Richard Teng emphasized Binance’s regulatory progress, with approvals in 20 regions and more expected. He noted that partnerships with global regulators remain critical to creating comprehensive crypto governance frameworks, vital to earning user trust and cementing crypto’s place in the financial ecosystem.
Looking ahead, Teng predicts a positive outlook for crypto in 2025, fueled by favorable macroeconomic conditions such as anticipated interest rate cuts, which should benefit asset prices globally. As central banks begin reducing rates and inflation stabilizes, Teng sees this period as advantageous for cryptocurrencies and broader asset markets.
With top financial institutions worldwide incorporating blockchain into their operations, Binance’s expansion into key markets like Thailand showcases a strong momentum towards crypto becoming a staple in global finance.
