Binance Targets 3 Billion Active Users by 2030, Expands Traditional Finance Partnerships

Binance aims to increase its active user base to 3 billion by 2030, about 10 times its current level, as it pushes ahead with expansion despite a market downturn.

Catherine Chen, Binance's head of VIP and institutional, told CoinDesk in an interview published May 30 that weak markets are the time to focus on building. Binance is preparing to expand its user base tenfold while public attention is elsewhere.

Binance currently has about 310 million active users.

The exchange is also stepping up its push into the institutional market. Chen said traditional finance invests more than $2 billion a year in order management systems, compared with about $185 million for comparable infrastructure in the crypto industry.

The convergence of traditional finance and crypto is another key part of Binance's strategy. Financial institutions are no longer trying to build all blockchain infrastructure on their own, and partnerships with crypto exchanges and blockchain infrastructure companies are increasing.

Binance recently introduced a triparty framework for institutional clients that accepts tokenized money market funds from BlackRock and Franklin Templeton as collateral. The structure allows institutions to post yield-bearing tokenized assets as trading collateral instead of cash.

The exchange is also supporting banks and asset managers entering digital assets through its institutional-only Crypto-as-a-Service, or CaaS, platform launched last year. More than 15 major financial institutions have approached Binance to use the service, Chen said.

Chen said tokenization of real-world assets such as stocks, Treasuries and bonds will advance quickly over the next 12 to 18 months. Tokenization does not change the nature of an asset, she said, but improves accessibility and usability.