Changpeng Zhao: “Crypto exchanges can handle transaction volumes banks can’t”

A claim has emerged that the infrastructure of crypto (virtual asset) exchanges has already surpassed that of traditional financial institutions.

According to crypto-focused media outlet CoinDesk on the 27th, Changpeng Zhao, founder of Binance, said recently in Davos, Switzerland—where the World Economic Forum (WEF) Annual Meeting was held—that “major crypto exchanges today can reliably process transaction volumes that traditional banks structurally struggle to handle.”

He cited an instance in which Binance processed customer withdrawal requests in December 2023—peaking at up to $7 billion per day and totaling $14 billion on a weekly basis—without interruption. “For a traditional banking system, it is realistically difficult to absorb short-term liquidity movements of this scale,” he said. He added that “this capacity shows crypto exchange infrastructure has evolved significantly in terms of speed, scalability and resilience.”

Zhao also assessed that stablecoins are quietly establishing themselves as global payments infrastructure. Unlike highly volatile crypto assets, stablecoins are used as a settlement instrument linking fiat currencies and blockchains, helping make cross-border remittances faster and cheaper.

He added, “Banks and the blockchain industry are moving beyond a simple experimental phase into real adoption, and crypto assets are gradually being integrated into the core infrastructure of the global financial system.”