Binance CEO Richard Teng: Crypto and traditional finance complement each other, Binance will create a crypto super application

In the "CEO Connect: August Edition" AMA, Binance CEO Richard Teng shared his views on the integration of traditional finance (TradFi) and crypto finance. He said, "Traditional finance has provided us with a solid foundation for decades, but crypto technology can solve some long-standing problems, such as about 1.4 billion unbanked people around the world, up to 15%–20% of cross-border remittance fees, and slow transaction speeds." He also pointed out that cryptocurrencies have low-cost, near-instant global transfer capabilities and are an important tool to promote global financial inclusion. Looking ahead, he said he hopes to build Binance into a crypto super app "super app". Whether it is transferring money, shopping, earning passive income, reading information, or even donating, it should be completed in one stop in the Binance App.