Binance, the prominent cryptocurrency exchange, has experienced remarkable growth in its user base throughout 2023, as revealed in its recently published year-end report.
The exchange platform has welcomed a staggering 40 million new registered users this year, marking an impressive 30% increase compared to the previous year.
Binance now boasts a substantial global user base of 170 million registered individuals.
Binance’s report emphasized the steady adoption and expansion of various services, including cryptocurrency payments, peer-to-peer trading, and earning products.
The platform’s peer-to-peer (P2P) trading segment recorded a notable 18% surge in trading volume and a remarkable 39% increase in active users.
“In conclusion of 2023, Binance proudly counts 170 million registered users and offers an impressive array of 1,785 trading pairs encompassing 431 distinct assets,” noted the company in its annual report.
Furthermore, Binance made significant investments in enhancing its compliance and security measures.
In 2023, the company allocated a substantial $213 million towards compliance, marking a substantial 35% year-over-year improvement.
As a result, Binance has secured licenses and registrations in a total of 18 jurisdictions, enhancing its regulatory standing.
Despite these impressive metrics, Binance emphasized that its most significant achievement lies in “maintaining the trust of our growing community.”
The company remains steadfast in its mission to “advance the freedom of money globally” through the use of cryptocurrencies.
In an exciting development, Binance Feed evolved into Binance Square in 2023, transforming into a comprehensive social platform designed to serve as the central hub for the Web3 content universe.
This transformation has facilitated meaningful conversations and enabled users to generate engaging content.
Over the past year, Binance Square has witnessed remarkable growth, with its creator base expanding from 1,200 to an impressive 11,000, and daily active users surging from under 700,000 to a remarkable 1.6 million and counting.
In summary, Binance’s extraordinary growth in 2023, with 40 million new registered users and substantial improvements in compliance and security measures, reaffirms its position as a leader in the cryptocurrency exchange industry.
With its commitment to advancing financial freedom and its expanding ecosystem, Binance is poised for a promising future in the crypto space.