TL;DR Breakdown More financial institutions continue to turn to crypto.Zhao calls crypto multiasset class technology. CEO of Binance Crypto Exchange, Changpeng Zhao, has said that traditional financial institutions and investors have continued flocking cryptocurrencies in recent times. Zhao said that most of these financial institutions have their sight into Bitcoin. He noted that the crypto space has seen a growing number of traditional monetary institutions turning to it. Why financial institutions continue to turn to crypto The Binance CEO spoke during an interview with South China Morning Post while sharing his experience and views on trends in the crypto space. Zhao said traditional financial institutions and investors have already seen the benefits of cryptocurrencies, which he explains as why these firms are flocking cryptocurrencies. “The financial institutions are coming big time. We also see the traditional financial services from some of the bigger names moving into the space.” While speaking, Zhao said Bitcoin is also a multiasset class technology which he says makes leading financial institutions view it as an investment instrument. Zhao opined that digital assets would play a massive role in the future monetary network. Zhao speaks on Binance regulatory issues The Binance chief, during his interview, spoke on the exchange regulatory woes as watchdogs from UK, Hong Kong, Japan, and Singapore have warned the excha...
