Richard Teng, Co-CEO of Binance, highlighted the role of cryptocurrency in expanding financial access and noted a shift in the United States towards seeking a global leadership role in the industry. He made these remarks during his welcome address at Binance Blockchain Week in Dubai.
"The US has gone from being anti-crypto to wanting to become the crypto capital of the world," said Teng. "It's not only large economies making this move, smaller countries are leading the way too. Take Bhutan, for example, which is pioneering crypto tourism with a determined vision of national-scale crypto adoption. Clear regulation will bring more trust and adoption to the industry."
According to the Chainalysis 2025 Global Adoption Index, global cryptocurrency adoption is increasingly linked to financial inclusion, providing billions of unbanked individuals with access to digital finance. Emerging markets such as India, Nigeria, and Indonesia are leading in grassroots crypto use. The World Bank’s Global Findex Database 2025 indicates that digital assets help bridge gaps in payments and account access.
Bhutan has implemented a national crypto-based tourism payment system launched in May 2025, as reported by Skift. This system allows tourists to pay with more than 100 cryptocurrencies through partnerships with Binance and local financial institutions. It integrates crypto into flights, visa fees, and local purchases to support economic growth and digital adoption.
Stablecoins are being increasingly used for instant, low-cost cross-border payments, particularly in emerging markets. McKinsey reports that tokenized cash could form a new infrastructure layer for global payment systems by 2025. Their analysis highlights stablecoins’ potential to transform remittances and trade flows.
BIS Economic Adviser Hyun Song Shin said in a 2025 report that tokenized platforms backed by central bank reserves can "underpin the next-generation monetary and financial system." BlackRock CEO Larry Fink said tokenization could "do for finance what the early internet did for information." He noted that the technology could provide broader access to $257 trillion in global stocks and bonds.
Teng became CEO of Binance in November 2023 after more than 30 years in financial services and regulation. His previous positions include senior roles at the Monetary Authority of Singapore and Abu Dhabi Global Market. Binance, founded in 2017, remains the world’s largest crypto exchange despite past regulatory challenges.