Binance CFO Interview: 2 Main Things Will Drive Mainstream Crypto Adoption

Wei Zhou, the chief financial officer of Binance, believes two main factors will drive the mainstream adoption of crypto in the long-term.

Solid cryptocurrency exchange infrastructure that increases the ease of purchasing cryptocurrency and an increase in the number of high-quality projects in the ecosystem will fuel the growth of the cryptocurrency sector, Zhou said in an exclusive interview with CryptoSlate.

"I think two things will drive crypto adoption. One is the ease of purchasing cryptocurrency, essentially the entry coins like Bitcoin and Ethereum and for that, I think we need more on-ramps and off-ramps to be honest. That's sort of common. The other one is basically we need more high-quality projects in the ecosystem and we need to attract more intellectual capital for more high-quality founders coming into the ecosystem to build projects, to attract investments, to have sort of secondary markets for those projects. We want to be able to help drive that."

Binance is Healthy, Vision of BNB. Throughout the past eleven months, the valuation of the cryptocurrency market has declined by more than 70 percent from $800 billion to $212 billion.

As Binance CEO Changpeng Zhao disclosed on CNBC Crypto Trader, the volume of Binance and every other cryptocurrency exchange has fallen by around 80 to 90 percent.

According to the Blockchain Transparency Institute, Binance is still recording more than $1 billion in daily trading volume, as the largest digital asset trading platform in the world.

With the over-the-counter market estimated to be at least as large as the cryptocurrency exchange market, the volume of the global crypto market is around $22 billion.

At the time, Yi He, the co-founder and Chief Marketing Officer at Binance, told CryptoSlate in an interview that the company remains confident in the trend of the market.

In the months to come, Binance CFO Wei Zhou emphasized that the company will continue to work to drive mainstream crypto adoption and increase the usage of cryptocurrencies.

Previously, CZ stated that Binance is aiming to secure more than a billion users by 2030 to 2040, in the long-term.