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

Binance said it plans to keep expanding through the market downturn and raise its active user base tenfold to 3 billion by 2030.

Catherine Chen, Binance's head of VIP and institutional business, told CoinDesk that weak markets are the time to focus on building. Binance is preparing to grow its user base by 10 times while attention elsewhere remains limited.

Binance currently has about 310 million active users.

The exchange is also stepping up its push into the institutional market. Chen said traditional finance spends more than $2 billion a year on order management systems, while the crypto industry's investment in related infrastructure is only about $185 million. Binance is working with Coin Metrics, Talos and 3Commas to provide OMS tools for institutional clients.

The convergence of traditional finance and the crypto industry is another key strategy. Financial institutions are no longer trying to build all blockchain infrastructure on their own. Partnerships with crypto exchanges and blockchain infrastructure companies are increasing.

Binance has 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 company is also helping banks and asset managers enter the digital-asset business through its institutional Crypto-as-a-Service, or CaaS, platform launched last year. More than 15 major financial institutions have approached Binance to use the service so far, Chen said.

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