The Street, a financial news publication founded by Jim Cramer of Mad Money, recently left a little time to sit with Changpeng "CZ" Zhao, CEO of Binance, to get a scoop on relationships, prospects and the perspectives of the exchange regarding cryptocurrencies and blockchain technology.
Binance CEO: "Fidelity & # 39; s Foray suggests that the Crypto Market Cap will grow much more".
Speaking with The Street & # 39; s Jordan French, Zhao has touched on a range of topics, from the childhood months of Binance to the project's agenda, and, more interestingly, to the personal opinions of the CEO on institutional interest in this sector.
"We are looking for teams that share our vision, who want to build the infrastructure for ten years along the road to this sector". @cz_binancehttps://t.co/CzpY0y9y6c
– Binance (@binance) November 14, 2018
Questioned on the influence of the institutional involvement in the crypto in recent times (think of the Bakks of the ICE, the ErisX supported by the TD and the Fidelity Digital Asset services), Zhao, a former employee of Bloomberg, noted that "increasing institutional participation is a very good thing. " on a specific example, the CEO of Binance explained that Fidelity Investments, a Boston-based investment giant, manages $ 2 trillion of assets, which is more than 10 times the current aggregate value of all cryptocurrencies.
So, considering this fact alone, CZ explained:
The fact that Fidelity is moving into space (launching digital asset trading services last month) suggests that the capital market cap will grow much more.
Almost comparing the growth of a market to a snowball rolling down a snow-covered hill, Zhao noted that as this market swells, more investors will be induced to raid this market and in this industry, further increasing the prices. CZ then discussed stability and non-volatility and its relationship with institutional involvement. He explained that while stability decreases, adoption levels, both in commercial and investment capacities, are likely to improve, later adding that it is "just a matter of time".
In short, Zhao explained that the arrival of institutional players "is fundamentally a very positive result".
Discussing the specifics of crypto-involved institutions as it is, Binance's executive drew attention to US players, noting that, like capital markets, US investors drive the package, even if regulation it is strict. But he explained that institutional adoption is increasing in Europe and Singapore, with the relatively lax regulations of this last nation that have attracted new players to make an incursion into cryptocurrencies.
This, curiously, is a taste of intuition that many enthusiasts of encryption would not notice, because the encrypted means of communication are concentrated on the readers and products of the United States. Regardless, the fact that Binance has recently established a crypto-fiat platform in Singapore indicates that the fundamentals of this sector are changing under the radar, and we hope for the better.
Zhao's most recent comments arrive within a few weeks, if not a few days later that led to CNBC Africa's Crypto Trader to say to host Ran NeuNer that "sooner or later" any number of catalysts will blow up the next race of the Crypto bulls.
Binance has ambitions to become the Google of Blockchain
Concluding her interview, Zhao talked about her ambitions for her conceived – Binance. CZ noted that in the end, he wants people to use the "Binance" world as a verb, just as digital citizens use "Google" in everyday life. Has elaborated:
An infrastructure service provider: this is our ultimate goal. Today, if you drive on the road, you do not think to drive on a road; you drive. Find a road and drive us on. We want to be the way.
Binance and magnifying lens Image courtesy of Marco Verch on Flickr