Richard Teng: Crypto has become a leading financial infrastructure, not just an asset
The post Richard Teng: Crypto has become a leading financial infrastructure, not just an asset appeared on BitcoinEthereumNews.com. Richard Teng discovered crypto in 2017, while still working as a regulator, and it changed how he viewed the future of financial services. “The more I deep dive into it, I realized that this is going to be the future of financial services,” he said in a recent appearance on the podcast “Figuring Out With Raj Shamani.” Now Co CEO of Binance, Teng argues that crypto is no longer only something people trade. In his view, it is increasingly becoming infrastructure that parts of the financial system can run on, because it can enable continuous markets and faster settlement. Why is speed becoming the new currency of markets? Teng highlighted limited trading hours and slow settlement as two frictions he sees across traditional finance. Stocks and bonds in most markets still trade primarily during set business hours, he said. That leaves investors with fewer optio