It seems Binance may go where traditional finance has not managed to, as CZ points toward parts of the world lacking financial inclusion.
Bridging Financial Freedom
Binance CEO, Changpeng Zhao, has reiterated the importance of cultivating financial inclusion as he drew upon surprising statistics to make his point.
The Chief of the leading exchange in crypto underlined his thoughts through a tweet on May 22 that utilized some alarming facts from The Global Findex. The results from research carried out by the organization highlight the fact that there are countries from continents all over the world in which the majority of the population does not have access to financial instruments that may benefit them. platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NlbnNpdGl2ZV9tZWRpYV9pbnRlcnN0aXRpYWxfMTM5NjMiOnsiYnVja2V0IjoiaW50ZXJzdGl0aWFsIiwidmVyc2lvbiI6bnVsbH0sInRmd190d2VldF9yZXN1bHRfbWlncmF0aW9uXzEzOTc5Ijp7ImJ1Y2tldCI6InR3ZWV0X3Jlc3VsdCIsInZlcnNpb24iOm51bGx9fQ%3D%3D&frame=false&hideCard=false&hideThread=false&id=1528284077140361216&lang=en&origin=https%3A%2F%2Fwww.bsc.news%2Fpost%2Fcz-outline-binances-intention-to-spread-financial-inclusion&sessionId=62d340462fd4fa8fabdc34cd19260a1059c51f70&theme=light&widgetsVersion=c8fe9736dd6fb%3A1649830956492&width=550px
CZ’s statement was simple but powerful. Binance has already outlined its intention to grow all over the world, with its most recent partnership with the Fintech Founds Group based in the United Kingdom coming just days ago. However, an important question that many users ask is what steps the organization is taking to bridge out in other parts of the world.
Binance’s Global Push
With the rapid rise of the Web3, the metaverse, GameFi, NFTs, and various other cryptocurrencies, Binance has been drawing more attention as it gives users new ways to interact with the space. With over 1,400 spot pairs and 200 futures pairs, users have a huge array of options they can choose from and delve into. A key concept in this regard is accessibility, and with the fee discounts offered when trading in BNB worldwide, it has never been easier to track and trade your favorite tokens and teams.
Last year Binance published a piece on its blog highlighting how NFTs have had a sweeping impact on the Philipines, with users finding new ways to trade and earn GameFi assets. This may well indicate much more to come as the NFT space begins to take off on the chain alongside innovative new gaming products. To make this future a reality, the team understands the importance of educating prospective users in its bid to onboard the next one billion people onto the space.
Momentarily, the predominant mode of engagement with Binance’s financial products comes through its DEX, and the team is conscious of this, striving to ensure that when it comes to inconvenient aspects of trading like slippage, they offer a remedy. The team has already underlined the favorable statistics regarding low slippage (0.0006105) when compared to other exchanges’ 0.001348 percent. However, to remain the go-to exchange for most users and open doors for new users with complex economic realities, the team will have to stay at the top of its game when it comes to remedying these kinds of issues.
BSC News will be keeping close tabs on Binance’s ability to offer financial literacy to all corners of the globe.
What is Binance:
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Where to find Binance:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.