May 22, 2024

Binance shares cryptocurrency trends and web3 insights in end-of-year report

Binance reports welcoming over 40 million new users in 2023, a 30% increase from the previous year.

The report delves into specific figures, such as Binance reaching 170 million registered users by the end of 2023, offering 431 assets for trading across 1,785 pairs. The use of digital assets for payments surged, supported by an expanding network of merchants. Binance Gift Card usage for crypto gifting saw a 3.5-fold increase.

Binance extended fiat support to 69 currencies and 30 channels globally. P2P trading, with 970 payment methods and 112 fiat currencies, recorded an 18% increase in trades, serving 39% more users than in 2022.

Security and compliance, crucial aspects of the crypto industry, detail its investments in compliance technology, processes, and talent, totaling $213 million in 2023. The company claims to hold licenses, registrations, and authorizations in 18 jurisdictions worldwide.

Binance cites involvement in shaping key trends such as the rise of socialFi, increased adoption of crypto payments, a focus on compliance, and improved accessibility of web3 products.

The report also touches on Binance’s collaboration with law enforcement to combat illicit activities involving digital assets. Figures include responses to 58,000 law enforcement requests, 120 training sessions, and support for solving high-profile cases.

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