During this pivotal moment, Binance also made a significant leadership change. Yi He, co‑founder of Binance, was officially appointed Co‑CEO on December 3, 2025. She has long played a crucial role within Binance, particularly in customer service and operations. This appointment reflects the company’s commitment to a more corporate and user‑centric management approach aligned with global expansion and Web3 strategies.

Binance’s Historical Success and Market Dominance

Founded in 2017 by Changpeng Zhao (CZ) and Yi He, Binance has become a leading platform in the cryptocurrency market within eight years. According to press releases, the exchange’s total spot and derivatives trading volume has surpassed $125 trillion, securing a unique position in the global crypto ecosystem. This demonstrates Binance’s ability to gain worldwide user trust and support the growing adoption of digital assets.

As of June 2025, Binance accounted for over 41% of the spot cryptocurrency market. According to The Block, roughly 217 million transactions occur daily on the platform, with total volume exceeding $91 billion. These figures highlight the scale of Binance’s operations and the confidence users place in the platform’s liquidity.

More than 300,000,000 users trust @Binance. pic.twitter.com/LU8WQvvWA7

— CZ BNB (@cz_binance) December 7, 2025

Impact on BNB Token and Trading Opportunities

Reaching 300 million users and Yi He’s appointment as Co‑CEO bring renewed attention to Binance’s native BNB token. Historically, positive announcements from Binance have triggered upward price momentum in BNB, with increased trading activity seen on BNB/BTC and BNB/ETH pairs. This milestone may also boost on‑chain activity on the BNB Chain, providing opportunities for short‑term momentum trading or long‑term holding strategies.

Binance Secures Full ADGM Licenses, BNB Price Jumps

Market Sentiment, Liquidity, and Institutional Base

Binance Pay has processed 300 million transactions worth $230 billion. Between 2022 and 2024, users saved a total of $1.75 billion in transfer fees, making crypto payments more accessible and cost‑effective. Binance’s risk management systems have prevented $10 billion in fraudulent activity since December 2022, further reinforcing platform security. Additionally, over $215 million in stolen funds have been recovered or frozen, strengthening user trust.

Binance established the SAFU fund in 2018 to protect user assets, setting a new standard for trust in the sector. Between 2019 and 2021, Binance expanded its ecosystem with P2P services like Binance Earn and Binance Pay. In 2022 and 2023, the platform introduced Proof‑of‑Reserves and its own Web3 wallet to increase transparency and user control. These developments solidify Binance’s position as a trusted crypto platform for both individual and institutional users.

The exchange also actively participates in regulatory compliance and training. Approximately 241,000 law enforcement requests were handled, and over 400 financial crime training sessions were conducted. Around 22% of Binance employees work in compliance, underscoring the company’s focus on regulatory cooperation and user security.

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During the Binance Crypto-Powered Tour, Cointelegraph visited Thimphu and Paro to assess how much traction crypto payments have gained. Just a few months after launch, locals and tourists alike are using digital assets for everything from hotel bookings to street food.

From Temples to Tokens: A Nation Transforms

On May 7, Binance Pay and DK Bank announced a partnership allowing users to pay with Bitcoin, BNB, USDT, and other assets for flights, hotels, visas, and even snacks.

DK Bank president Ugy Gelephuin stated that nearly 1,000 merchants have already signed up to accept crypto. Local tour guide Kuenley Dorjee told Cointelegraph that the technology is still new to many, but enthusiasm is growing: “It’s easier to use and the fees are better.”

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Bhutan’s progressive stance stems largely from its monarch, King Jigme Khesar Namgyel Wangchuck—nicknamed the “Dragon King.” Under his rule, the country has implemented hydro-powered Bitcoin mining since 2019, accumulating over 12,000 BTC when prices were around $5,000.

In January, Bhutan‘s Gelephu region unveiled plans to develop a strategic crypto reserve, showing long-term commitment to digital assets.

Internet Challenges Persist, But Hope Is on the Horizon

Despite excitement, the country faces ongoing internet instability. Cointelegraph encountered inconsistent Wi-Fi in Paro and Thimphu, with Reddit users describing connections as “horrendously slow.”

The recent arrival of Starlink, however, could be a game-changer. Officially launched on February 17, Starlink promises speeds between 100–200 Mbps—enough to support real-time crypto transactions.

DK Bank’s Gelephuin remains optimistic: “We’re not quite there yet, but we’re on the right track.”

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USD Coin (USDC) reached an all-time high in April 2025, with a transaction volume of $219 billion. The strategic partnership with Binance played a significant role in this achievement. 

The Role of Binance Partnership 

Binance’s collaboration with Circle made USDC the default currency for Binance Pay. This move increased USDC’s accessibility through Binance Pay, which has over 40 million monthly active users. Additionally, Binance’s preference for USDC in its corporate treasury bolstered the stablecoin’s credibility. According to Kaiko’s data, USDC’s transaction volume on Binance reached $24 billion in January 2025, accounting for 49% of the global volume. This propelled USDC’s market share to a historic peak. 

In today’s first Premium edition of our Data Debrief, we cover:

USDC's growing market share on centralized exchanges—and what shifting stablecoin use cases mean for regulators

Coinbase’s dominance in U.S. markets ahead of its Q1 earnings call

Accelerating Bitcoin ETF… pic.twitter.com/ZujC3SLnsV

— Kaiko (@KaikoData) May 5, 2025

USDC Volume and Rise 

USDC’s rise is reshaping the stablecoin market. While Tether maintains its lead with a $139 billion market cap, USDC’s $56 billion supply and growing adoption on networks like Solana are noteworthy. According to DeFiLlama, USDC’s supply on Solana rose to 17%, while Ethereum’s dominance dropped to 59%. Meanwhile, regulatory developments are supporting USDC’s growth. The anticipated U.S. stablecoin legislation in 2025 could favor regulated issuers like Circle. 

USDC’s record volume opens new opportunities for digital payments and decentralized finance (DeFi). Binance’s integration of USDC into its products and services could boost the stablecoin’s use in global trade. Furthermore, Circle’s planned IPO in 2025 could solidify USDC’s position in the financial ecosystem. These developments are bringing the stablecoin market closer to its 2022 peak of $187 billion. 

Europe’s MiCA regulation provides regulatory clarity while creating strategic challenges for stablecoins. MiCA compliance will be mandatory in the EU; USDC offers stronger regulatory positioning and transparency compared to USDT. USDC’s success in April 2025 underscores the strategic importance of the Binance partnership. 

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The agreement was signed during the inaugural session of the Council for the Development of Digital Assets, attended by President Sadyr Japarov. As part of the deal, Binance Pay will be rolled out in Kyrgyzstan, enabling both locals and tourists to make crypto-based transactions.

Blockchain Education On The Agenda

The partnership also focuses heavily on education. Binance Academy will collaborate with Kyrgyz government institutions and financial entities to design blockchain-related learning initiatives. Kyrylo Khomiakov, Regional Head for Central and Eastern Europe at Binance, stated: “We are thrilled to support the growth of crypto assets in Kyrgyzstan.”

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This move is part of Binance‘s broader strategy to partner with governments globally. As CEO Richard Teng recently revealed, the company is consulting with several governments on building Bitcoin, Ethereum, and other digital asset reserves and regulatory frameworks.

Kyrgyzstan Eyes Digital Som And Crypto Mining

Beyond private partnerships, Kyrgyzstan is taking policy steps towards digitalization. On April 18, President Japarov signed legislation authorizing a CBDC pilot program and giving the “digital som” legal tender status.

Kyrgyzstan also stands out for its crypto mining capabilities. Thanks to abundant hydroelectric resources, the country offers low-cost energy, making it a prime location for crypto miners. Over 30% of Kyrgyzstan’s energy comes from hydropower, though only 10% of its potential is utilized.

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Breaking Barriers in Crypto Payments

The partnership ensures a faster, cost-effective, and user-friendly payment experience for both consumers and merchants. Binance Pay users now have easy access to a wide range of services and products, further empowering the integration of cryptocurrency into everyday transactions.

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Jonathan Lim, Global Head of Binance Pay, emphasized the significance of the partnership: “This collaboration comes at a pivotal time when cryptocurrency is being embraced in mainstream commerce and public services. The ability to pay for luxury goods, travel, and even government services with crypto shows how digital currencies are becoming a practical tool for everyday transactions.”

A Diverse Merchant Network and Public Services

xMoney’s merchant network spans industries such as luxury retail, gaming, travel, real estate, and public services. Additionally, xMoney supports government clients like the City of Lugano and the National Administration of the Principality of Liechtenstein, where citizens can pay for public services using cryptocurrency.

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Greg Siourounis, CEO of xMoney Global, commented: “Partnering with Binance Pay is a significant step in bridging the gap between blockchain and traditional finance. By integrating Binance Pay, we’re expanding our ecosystem and offering our users even more flexibility and choice in how they transact.”

Advancing Crypto Adoption: Compliance and Growth

xMoney operates fully within the EU MiCA regulations, ensuring a secure environment for cryptocurrency transactions. This compliance-focused approach gives merchants and users peace of mind regarding the safety of their transactions.

With this partnership, Binance Pay’s global merchant network has grown to over 32,000 businesses, marking a significant milestone. This expansion reflects a remarkable 36% year-over-year growth, from 8,900 merchants in December 2023 to over 12,000 in December 2024.

Binance Pay is a contactless, borderless, and secure cryptocurrency payment feature available on the Binance app, allowing users and merchants to send and receive crypto payments worldwide instantly, without incurring gas fees. It supports over 300 cryptocurrencies for peer-to-peer payments and more than 90 for merchant payments.

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The bridged version, i.e., USD Coin (PoS) (USDC.e), already supported by Binance, will be represented as the MATICUSDCE symbol on Binance.

• Bridged USD Coin (PoS) (USDC.e) on the Polygon network:
  0x2791bca1f2de4661ed88a30c99a7a9449aa84174
• Native USD Coin (USDC) on the Polygon network issued by Circle:
  0x3c499c542cEF5E3811e1192ce70d8cC03d5c3359

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Also:

As of 2023-10-25 06:00 (UTC), Binance will suspend deposits and withdrawals of the existing USDC on the Polygon network.

USDC spot transactions, margin transactions, futures transactions, Binance Earn and Binance Pay services will not be affected.

Additionally the bridged USD Coin (PoS) (USDC.e) tokens will be adopted on Binance as MATICUSDCE. So the deposit and withdrawal operations of MATICUSDCE will continue to be supported.

A separate announcement will be made when the deposits and withdrawals of the Native USD Coin (USDC) are opened.

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