Binance is looking beyond crypto trading and toward a broader financial platform that combines investing, payments, lending and asset management, according to Shunyet Jan, the company’s head of trading and exchange business. Speaking on Oct. 9, Jan said competition among future financial platforms will center less on standalone crypto trading and more on building an integrated ecosystem spanning traditional finance and digital assets. He said traditional finance holds advantages in regulation, risk management and separation of functions, while crypto stands out for 24/7 trading, fast settlement and openness. Jan also outlined product directions Binance wants to pursue, including a unified account structure, cross-asset margin, tokenized assets and stablecoin payments. The goal, he said, is to let users access the financial value of underlying assets without having to sell them, while also exploring how AI could simplify asset selection and risk management. Jan added that Binance now has more than 300 million users, most of them in emerging markets, and said the company aims to grow that figure to 3 billion over the long term.
Binance wants to compete as a broader financial platform rather than remain focused only on crypto trading, according to Shunyet Jan, the exchange’s head of trading and exchange business.
Speaking on Oct. 9, Jan said the next phase of competition among financial platforms will center on combining investing, payments, lending and asset management into a single ecosystem that covers both traditional finance and crypto markets.
Traditional finance and crypto strengths could converge
Jan said he spent about 30 years at Goldman Sachs, Morgan Stanley and JPMorgan. In his view, traditional finance has strengths in regulation, risk management and separation of functions. Crypto, by contrast, is more competitive in 24/7 trading, rapid settlement and openness. He said the two sectors are likely to converge more quickly over time.
Product plans include unified accounts and tokenized assets
Jan said Binance wants to build features such as a unified account system, cross-asset margin, tokenized assets and stablecoin payments. The idea is to let users draw on the financial value of underlying assets without selling them.
He also said the company is exploring the use of AI to simplify asset selection and risk management.
Binance says most users are in emerging markets
Jan said Binance currently has more than 300 million users, with most of them coming from emerging markets. Among users of its direct stock and tokenized stock products, about 90% are from emerging markets, he added.
Its long-term goal is to expand from 300 million users to 3 billion and become financial infrastructure that more people can use, Jan said.
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