Binance is focusing on Thailand as a key market in its goal to expand the reach of cryptocurrency. The world’s largest cryptocurrency exchange aims to grow its user base to one billion. Binance’s Chief Marketing Officer Rachel Conlan said that Thailand is among the top 20 markets where Binance operates. In Thailand, the crypto adoption rate is twice the global average. Conlan shared these comments during Binance Blockchain Week held in Dubai.
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Conlan noted that Asia is Binance’s main market. She highlighted that Thailand has made significant efforts to develop a proper regulatory framework for crypto. This, she said, will help the industry grow. Recent data shows that 12% of Thais use crypto compared to the global average of 6%. Currently, Binance serves 240 million users worldwide.
Conlan acknowledged that although Bitcoin adoption is still low, interest in crypto has grown recently. She mentioned that Binance gained 60 million new users in the past six months. This growth, according to her, is due to the increasing adoption by institutions and the approval of exchange-traded funds.
Binance aims to make crypto more accessible. The company believes that reaching 20% global adoption would mean crypto is mainstream. Conlan estimated this could happen in the next three years. For Binance, reaching the one-billion-user mark would represent a shift from niche to mainstream.
Binance’s Chief Executive Richard Teng said that the company is now the most regulated exchange globally. Binance has 20 regulatory approvals and continues to work with regulators worldwide. Teng acknowledged that Binance is losing some market share due to regulatory challenges but expressed optimism for 2025. He believes that improved economic conditions, including interest rate cuts, will support asset growth.
Teng also pointed to the rising number of financial institutions with blockchain agendas. He emphasized that regulatory clarity will reassure users as more frameworks are introduced. Binance remains focused on working with regulators to shape crypto’s future.
