Binance's 7-Year Journey: Expanding The Ecosystem And Pioneering Beyond

Launched globally in 2017, Binance has transformed from a startup into a thriving ecosystem within just seven years. This growth is fueled by the introduction of diverse user experiences and an ever-expanding range of products.

Richard Teng, CEO of Binance, confidently stated that Binance is "in a strong position to lead the digital asset industry," a statement well supported by the platform's impressive achievements over the past seven years.

Expanding The Ecosystem

Celebrating its 7th anniversary, Binance now boasts 200 million users across more than 100 countries and territories, reflecting an impressive growth rate of 133%.

Over 8 million users have used Binance Earn to increase their digital assets, while 24 million have used Binance Pay to conduct seamless transactions. Furthermore, Binance's commitment to education is evident through Binance Academy, which has attracted over 43 million users eager to learn about blockchain and emerging technology trends.

Binance's efforts to build a robust ecosystem have strongly influenced the broader industry, driving systematic and sustainable development across the digital asset space.

Beyond its role as the world's leading digital asset exchange, Binance has supported the growth of the blockchain ecosystem through various initiatives, including Binance Academy, Binance Research, and Binance Charity.

Binance Academy, now serving over 43.6 million users globally, continues to provide accessible and comprehensive knowledge on digital assets and blockchain technology.

Meanwhile, Binance Charity has sponsored many initiatives that use blockchain for social good in healthcare, education, and disaster assistance, demonstrating Binance's dedication to social responsibility.

Through strategic investments, innovation fostering, and support for startups via incubation programs, grants, and mentorship, Binance is committed to nurturing a sustainable and open crypto ecosystem for the future.

Pioneering Change Through Compliance And Security

Compliance is a pillar of Binance's operations, as seen by its tireless efforts to secure information security and regulatory conformance in the digital realm.

Established in 2018, the Secure Asset Fund for Users (SAFU) was created to protect users' assets in the event of security breaches, funded by a portion of transaction fees. Today, the SAFU fund stands at over $1 billion.

Binance's commitment to enhancing security and fostering cooperation has been a priority. From June 2023 to May 2024, Binance teams handled approximately 62,800 law enforcement requests globally, playing a crucial role in supporting investigations, prosecuting criminal cases, identifying perpetrators, and recovering funds for victims.

The platform also extends its impact through a series of community-focused activities, from providing free meals to children to establishing educational funds and supporting those affected by earthquakes and natural disasters. To date, Binance Charity, a non-profit organization, has allocated $23 million to assist over 1 million people in 54 countries.

In addition to addressing urgent needs, such as disaster relief, Binance Charity implements long-term projects in areas like food security, environmental preservation, and historical site restoration, with the potential to significantly multiply positive impacts in the future.

In 2023 alone, Binance Charity donated $7.9 million to life-changing projects worldwide, $5.8 million to enhance the well-being of vulnerable communities, and $2.1 million to blockchain and Web3 education.

One standout initiative, "Binance Lunch for Children," currently provides meals to over 21,000 students and teachers across Africa, showcasing how blockchain can address serious societal challenges with transparency and efficiency.

Binance is also at the forefront of promoting gender equality. Since 2022, Binance Charity has partnered with Women in Tech to offer specialized blockchain courses tailored for all skill levels.

By 2023, the program expanded beyond Burundi and Brazil to South Africa, Kenya, Uganda, Nigeria, and Zambia, educating more than 1,500 students and women across Africa and Latin America. This program continues to share knowledge and empower women sustainably around the world.

“With these accomplishments, as we enter our eighth year of service, Binance is well-positioned to continue leading the digital asset industry into its next phase of development. The world is changing rapidly, and Binance remains steadfast in upholding its core values, focusing on users, and prioritizing compliance and security to manage the difficulties ahead," shared Richard Teng, CEO of Binance.