Richard Teng highlights Binance goal to reach 1 billion users
Binance expands globally, boosting crypto accessibility
Binance CEO Richard Teng has confirmed the exchange’s ambitious goal of onboarding 1 billion users, calling it a core mission rather than a distant dream.
Key takeaways:
- Richard Teng reaffirmed Binance's goal to onboard 1 billion users, emphasizing that every step brings the company closer to global crypto adoption.
- In 2024, the number of registered Binance users surpassed 250 million.
- Despite increasing regulatory scrutiny, Binance strengthens its position through innovation, global expansion, and partnerships, aiming to set new standards for financial inclusion and trust.
Strategic vision and global mission
Teng highlighted that Binance aims to make cryptocurrency more accessible to a wider audience, aligning with its broader strategy of empowering individuals and institutions.
"Every step we take today brings us closer to making crypto mainstream," Teng wrote in a recent post on X, reaffirming Binance's long-standing commitment to global adoption.
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The company's roadmap includes further expansion into new markets, along with enhanced security, compliance measures, and community-driven initiatives designed to foster trust and long-term sustainability.
Record achievements and user base growth
According to Binance’s 2024 annual report, the platform’s registered user base exceeded 250 million by the end of the year, marking a historic milestone. This remarkable growth was driven by both retail and institutional engagement, solidifying Binance’s position as the world’s leading cryptocurrency exchange.
The report highlighted that in June 2024, Binance celebrated reaching 200 million users. However, within just six months, the platform added an additional 50 million users, demonstrating its expanding global presence and innovative service offerings. Notably, the company’s institutional client base nearly doubled, driven by in-demand services such as Binance Wealth and the enhanced Banking Triparty service, which proved particularly appealing to corporate clients navigating the digital asset space.
Binance 2024 Annual Report. Source: Binance
Success story and overcoming challenges
Since its founding by Changpeng Zhao (CZ) in July 2017, Binance has grown exponentially, earning a reputation for innovation, adaptability, and user-focused solutions. Despite industry-wide challenges and heightened regulatory oversight, Binance has maintained its upward trajectory by investing in cutting-edge technology, expanding its ecosystem, and fostering a supportive global community.
In 2024, the exchange’s rapid adoption was further supported by key platform upgrades aimed at enhancing user experience and deepening financial inclusion. Initiatives such as expanded fiat-to-crypto channels and upgraded trading tools boosted user engagement, while partnerships with global influencers helped bridge the gap between traditional finance and Web3.
At the end of the year, Binance Labs, the exchange's venture capital arm, announced a significant rebranding and expansion of its investment focus for 2025. The company plans to operate under a new name and increase its investments to cover not only traditional blockchain and crypto projects but also sectors such as decentralized science, real-world assets, and artificial intelligence.
As Binance continues to set industry standards, its vision of onboarding 1 billion users underscores the platform’s impact on shaping the future of digital finance. With a strong foundation built over years of innovation and strategic growth, Binance’s path to mass adoption reflects its ambition to redefine global financial access.
