Whether it is the last 24-hour trade volume or weekly visits, the largest exchange in the world in terms of daily trading, Binance scores $16 Bn, and 22 Mn, almost 7x and 9x more than the world’s number two exchange Coinbase with that of $2.3 Bn and 2.4 Mn correspondingly.
In an interaction with Inc42, founder and CEO, Changpeng Zhao, Binance said that India will be fundamentally important in the crypto narrative.
“India is a huge market, as well as a leader in technology, and therefore will be a natural frontrunner for Web 3.0 startups,” Zhao said.
In terms of India, in 2017, Binance had acquired the Indian crypto exchange WazirX. The acquisition provided an option for users to buy and sell crypto with Indian rupees (INR) on the Binance Fiat Gateway. Besides being in a continuous trouble with Indian regulatory bodies, Binance remains bullish on Indian Web3 startups and the opportunity the market offers.
Inc42 caught up with Binance CEO Changpeng Zhao to know more about the competition, the criticism it faces over operational transparency, metaverse and more..