US Binance CEO says companies not adopting crypto are “ignorant.”

The CEO of crypto exchange Binance's United States branch said adopting crypto may be one of the only ways for businesses to be "pandemic resilient" going forward.

In an interview with Joe Weisenthal and Tracy Alloway on Bloomberg’s Odd Lots podcast, US Binance CEO Catherine Coley said crypto had the ability to offer “uses beyond speculation” wherein investors could engage in e-commerce transactions, drive new businesses, and other real-world applications like mortgages. She said, “If you’re building a company in the next five years and you do not consider digital assets as a component, you’re ignorantly going into this. It’s an adoption case that is pandemic resilient.” Crypto-related startup stories have become more frequent this year. 

 

“Companies should take their cues from cryptocurrency.”

Catherine Coley, the CEO of crypto exchange Binance’s United States branch, said that in the future, companies should take their cues from cryptocurrency, which has made conversations about money more convenient for the average person but also more accessible to professionals in traditional finance. The crypto industry is an industry that is reaching a significantly different audience than finance,” said Coley. “I’ve been able to stay off the streets because of crypto, and there is so much benefit in that, that people underestimate,” she added. 

 

Binance launches its crypto debit card. 

Crypto exchange giant Binance revealed that its Binance Visa Card is now available for use throughout the European Economic Areas earlier this month. The rollout was initially announced in July this year. Crypto cards allow users to preload their accounts using supported digital currencies, which are then converted to fiat and deducted from the balance during the time of payment at a retail location. In Binance’s case, the money is taken directly from the user’s trading account. Binance card, powered by Swipe, works like your traditional debit card. But instead of fiat, you’ll be holding digital assets, such as BTC, BNB, SXP, and BUSD. 

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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