After reading the complete report from #Binance, one point that caught my attention is that Binance no longer describes itself as "a trading platform," but rather as "an embeddable financial infrastructure." This not only indicates that Binance's target customers have upgraded from "trading users" to "financial users," but also signifies that the cryptocurrency sector has gradually transitioned from a product phase centered around trading to a system phase focused on financial structures and infrastructure.

In the past few years, the core competitiveness of the crypto industry has mainly concentrated on three dimensions: trading depth, product richness, and traffic acquisition capability, which essentially still revolves around trading activities.

However, now, the overall cryptocurrency exchanges are more focused on how to be directly embedded by banks, brokerages, asset management institutions, and payment agencies, becoming a part of the existing financial system, rather than merely serving users' buying and selling activities.

Personally, I believe this reflects a change in the stage of the entire industry. Cryptocurrency is no longer just an independent market primarily driven by speculation, but is gradually entering the account systems, settlement systems, collateral systems, and compliance modules of traditional finance. Whether it’s fund accounts, over-the-counter settlements, white-label matching engines, or tokenized bonds and RWA collateral, these all indicate that crypto assets are transitioning from tradable assets to fundamental assets that can be directly utilized by the financial system.

In simpler terms, this represents an upgrade in the cryptocurrency industry and a deep integration of the cryptocurrency sector with traditional finance following compliance. Whether this is a good thing, I cannot say, but it certainly increases the flow of funds.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。