Binance's 2023 report reveals: the number of users increased by more than 40 million! Focus on investing in Web3 and DeFi fields

After the world’s largest cryptocurrency exchange Binance and its founder Changpeng Zhao (CZ) reached a settlement agreement with the U.S. Department of Justice, people have been concerned about the exchange’s operations. whether it will be affected. However, Binance released some data in its recently released "2023 Year-End Report" showing that they are still continuing to build and develop. This shows that they are working hard to meet the challenges and maintain the stable operation of the exchange. This move helps alleviate public concerns about Binance’s future, and also demonstrates Binance’s leading position and development potential in the cryptocurrency field.

New users will grow by over 40 million in 2023

Binance’s announcement shows that as of the end of 2023, the number of registered users has reached 170 million, an increase of nearly 30% from the end of last year. In 2023, Binance gained more than 40 million new users, further expanding its user base.

At the same time, Binance pointed out that it has also made great progress in crypto payments, P2P transactions and revenue-related services in 2023:

The number of people using Binance Pay or Binance Card increased by 54% , more than 3,500 new Pay merchants and partners worldwide now accept cryptocurrency payments

The P2P platform has supported 970 payment methods and 112 fiat currencies, and has processed an 18% increase in transaction volume compared to last year , the number of users of the service increased by 39%

Binance Earn has also achieved growth. Currently, the Simple Earn product suite supports 362 types of assets, the number of users has also increased by 35% over the previous year, and TVL has increased by 16.8%

Committed to security and compliance

At the same time, Binance also stated that it will continue to be committed to security and compliance. In 2023, Binance has done some work in this regard:

Investments in compliance technology, processes and talent totaled $213 million, a 35% increase from $158 million the previous year

As of the end of 2023, Binance is licensed, Registration and Authorization

In 2023, Binance responded to 58,000 law enforcement requests, supporting regulators in their fight against crime and terrorism

Number of assets supported by the Binance Proof of Reserve (POR) system from 2022 The number of 9 types in 2023 increased to 31 in 2023

Launched Binance Web3 Wallet and continued investment

Officials also mentioned that in order to meet the demand for access to decentralized networks, in 11 In September, Binance Web3 Wallet, a self-hosted wallet that allows users to perform token exchanges across multiple chains and earn income, was launched. Currently, millions of users have participated.

Finally, its venture capital and investment arm Binance Labs said it is continuing to identify and support projects with the potential to unlock the benefits of Web3 and promote its mass adoption. Their investments this year have focused on infrastructure and tools powered by zero-knowledge proof cryptography, Web3 gaming, and DeFi innovation. More than 2,000 new startups around the world have applied to participate in Binance Labs’ 2023 incubation and acceleration program, of which 36 have received support.

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