Binance CEO Discusses Trust Wallet Purchase, Exchange Security & Future Crypto Plans
Binance CEO, Changpeng Zhao, Talks About First Acquisition And Future Plans
Binance is the largest cryptocurrency exchange in the world by trading volume, so it has many issues to compliant with the legislation from all the places in which it works. However, the company seems always willing to get past these barriers by making partnerships and being creative. Recently, Changpeng Zhao, the CEO of the company, talked to the about the company.
The main focus of the interview was the acquisition of Trust Wallet, a decentralized crypto wallet that also has a browser for decentralized apps, but CZ, as he is often called, has also talked about the future of the company.
The Acquisition Of Trust Wallet
CZ believes that Trust Wallet was a great acquisition for the company. He did not state how much money Binance paid but told the media that it was “very reasonable” and “very worthwhile”, as he believes that the company has one of the best wallets of the moment, but did not have a chance to reach a wider audience.
He says that he was impressed with the quality of the team and described it as a “real rough diamond”. The company will continue the brand and let they produce it independently but making them available for the Binance users. The plan is to migrate more services to the Trust Wallet, including tighter integration with Binance Chain.
According to the CEO of Binance, both services are very complimentary their values and missions are together. It will also be good because Trust Wallet is decentralized and give 100% control to the users while Binance is centralized, so this gives more choices for the users of Binance.
The company will provide full support for the project, but the team will continue to work as it did before instead of moving to Taiwan like Binance.
The Future Of Binance
Talking about the future of Binance, the executive told the media that the most important step is to always uphold your core values and keep the security always a priority, as it is paramount for the industry to keep existing, so this area simply cannot be lacking.
The CEO seems to believe that most governments will embrace blockchain in the future, but he also is aware that governments are complex entities and that their decisions, like China’s or India’s, are not always positive for cryptos. The main short-term issue, he believes, is certainly regulation.
CZ also talked about the process of listing tokens. He said that it was pretty standard by evaluating teams and metric and that there was not a lot of secrets about it, they just listed the ones which seemed secure and good for the users of the platform.