Binance CEO, Changpeng Zhao (CZ) has recently stated that cryptocurrency exchanges should always aim to go global and try to tap into different markets instead of focusing their attempts on just one single region.
During his interview, CZ stated that many other crypto exchanges always claim that they are “international” and yet all their efforts are almost always focused on one single region. And for this reason, it’s very common to see the same crypto exchanges with users only coming from one region.
CZ also mentioned that it’s hard to build a truly global business, especially if the founders themselves haven’t lived in different countries. The local markets from different regions often want different things and have very different challenges from one another.
Unlike other crypto exchanges, however, Binance is actually quite popular everywhere. It’s popular in North America, in Europe, in Asia, and also in Africa. Binance believes that it needs to have a “global view” and the rest would be just about executions. Of course, execution is also extremely difficult - as admitted by CZ himself.
On top of that, CZ also said that crypto exchanges must always adapt to new changes, as the crypto space itself keeps changing from time to time.
Source: CoinTelegraph
