# Binance

> Source: https://docs.barcoder.ai/docs/wallets/binance
> research date 2026-05-29 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Binance — official](https://www.binance.com/)

## Overview

**Binance** is **the world's largest crypto exchange by trading volume** <sup>[1][1], [2][2], [crypto-cro]</sup>. **2025 baseline**: **300M+ user base + $34T annual trading volume** — roughly **1 in 27 people worldwide use the platform**.

**Distinctive Binance 2025 positioning** <sup>[1][1], [3][3]</sup>:
- **300M+ global user base** (reached December 2025; added 30M in 2025)
- **$34T annual trading volume** (record-shattering year)
- **June 2025**: 41.1% of all global spot trading volume
- **On many days in 2025**: Nearly half of global Bitcoin and Ethereum trading volume on Binance
- **Retail-driven trading volume +125% YoY + institutional trading volume +21% YoY**
- **180,000 new accounts daily** average onboarding
- **$20B+ daily spot trading volume** across 1,630 trading pairs
- **$162.8B in user assets** (verified through proof-of-reserves disclosures)

**Distinctive 2025 regulatory milestones** <sup>[1][1]</sup>:
- **Full authorization from Abu Dhabi Global Market's Financial Services Regulatory Authority (ADGM FSRA)**
- **29 global certifications** including ISO and SOC standards

## History

**July 2017 — Binance launched** by **Changpeng Zhao (CZ)** in China.

**2017 — Binance moves operations out of China** (post-China crypto crackdown).

**2018 — Binance becomes world's largest crypto exchange by trading volume**.

**2019 — Binance.US launched** as separate US entity (for US regulatory compliance).

**November 2023 — CZ steps down as Binance CEO** + pleads guilty to US AML violations + Binance pays $4.3B settlement; **Richard Teng** becomes Binance CEO.

**2025 — Binance 300M user milestone (December) + $34T annual trading volume (record) + ADGM FSRA full authorization + 29 global certifications** <sup>[1][1], [3][3]</sup>.

## Ownership & operator

**Operating entity**: **Binance Holdings Ltd.** (private; multi-jurisdiction headquarters; Cayman Islands historically + UAE operational base post-2022).

**Major shareholders**: **Changpeng Zhao "CZ" (founder; majority shareholder)** + various institutional investors.

**Regulators**: **ADGM FSRA (Abu Dhabi Global Market Financial Services Regulatory Authority; full authorization)** + per-jurisdiction crypto regulators (29 global certifications).

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | Binance app (iOS + Android; primary mobile channel) + Binance.com web exchange + Binance Wallet (Web3) + Binance Card (Visa) |
| **Identifiers** | Email + phone + KYC documents (per AML requirements) |
| **License** | Crypto exchange (centralized; ADGM FSRA full authorization + 29 global certifications including ISO + SOC standards) |
| **Products** | Binance Spot Trading + Binance Futures + Binance Margin Trading + Binance Options + Binance Earn (staking + DeFi yield) + Binance Launchpad (token launches) + Binance NFT + Binance Pay (P2P crypto payments) + BNB Chain (Binance's own blockchain) + Binance Wallet (Web3) + Binance Card |
| **Distinctive scale**: 1,630 trading pairs + $20B+ daily spot trading volume + 180K daily new accounts + $162.8B user assets (verified via proof-of-reserves) |

## Users & growth

**2025 baseline** <sup>[1][1], [3][3], [4][4]</sup>:
- **300M+ global users** (reached December 2025; added 30M in 2025)
- **$34T annual trading volume** (record-shattering year)
- **June 2025**: 41.1% of all global spot trading volume
- **Retail-driven trading volume +125% YoY + institutional +21% YoY**
- **180,000 new accounts daily** average onboarding
- **$20B+ daily spot trading volume** across 1,630 trading pairs
- **$162.8B user assets** (proof-of-reserves verified)

## Use cases

Global crypto spot + futures + margin + options trading + Binance Earn (staking + DeFi yield) + Launchpad + NFT + Binance Pay (P2P crypto payments) + BNB Chain (Binance's own blockchain) + Binance Wallet (Web3) + Binance Card via Binance app + Binance.com.

## Implementations & partners

**Operator**: **Binance Holdings Ltd.** (private; multi-jurisdiction; CZ-founded).

**Major shareholders**: **Changpeng Zhao "CZ" (founder; majority shareholder)** + various institutional investors.

**Major crypto exchange competitors**:
- **[Coinbase](https://docs.barcoder.ai/docs/wallets/coinbase)** (Coinbase Global Inc.; NASDAQ: COIN; US's largest crypto exchange; 108M+ customers; 60-65% US crypto exchange trading volume; 6.9% global)
- **[Kraken](https://docs.barcoder.ai/docs/wallets/kraken)** (Kraken Financial; US-registered; 13M+ registered users + 5.2M funded accounts Q3 2025; Federal Reserve master account approved Mar 2026)
- **OKX** + **Bybit** + **Bitget** + **MEXC** + **HTX (formerly Huobi)** + **KuCoin** + **Gate.io** + **Crypto.com** (other major centralized crypto exchanges)
- **Uniswap + PancakeSwap + dYdX + GMX** (decentralized exchanges)
- **Binance.US** (Binance.US separate US entity since 2019)

**BNB Chain**: Binance's own blockchain (PoS L1; major DeFi ecosystem).

**Regulators**: **ADGM FSRA + per-jurisdiction (29 global certifications including ISO + SOC standards)**.

## Fun facts

- **World's largest crypto exchange by trading volume** — 41.1% of all global spot trading volume in June 2025.
- **300M+ global user base** (reached December 2025) — **roughly 1 in 27 people worldwide use the platform**.
- **$34T annual trading volume 2025** — record-shattering year.
- **On many days in 2025**: Nearly half of global Bitcoin and Ethereum trading volume on Binance.
- **180,000 new accounts daily** average onboarding.
- **$162.8B user assets** verified through proof-of-reserves disclosures.
- **July 2017 founding** by Changpeng Zhao "CZ" in China.
- **November 2023**: CZ steps down + pleads guilty to US AML violations + Binance pays $4.3B settlement; Richard Teng becomes CEO.
- **2025**: Full authorization from ADGM FSRA + 29 global certifications (ISO + SOC standards).
- **BNB Chain** — Binance's own blockchain (PoS L1; major DeFi ecosystem).
- **Binance.US** separate US entity (since 2019).

## Comparison

| Feature | Binance | [Coinbase](https://docs.barcoder.ai/docs/wallets/coinbase) (US's largest crypto exchange rival; 108M+ customers; 6.9% global) | [Kraken](https://docs.barcoder.ai/docs/wallets/kraken) (US-registered crypto exchange rival; Federal Reserve master account Mar 2026) | [OKX Wallet](https://docs.barcoder.ai/docs/wallets/okx-wallet) (Batch 27; major Web3 wallet comparable) | [Exodus](https://docs.barcoder.ai/docs/wallets/exodus) (Batch 27; non-custodial wallet comparable) |
|---|---|---|---|---|---|
| Operator | **Binance Holdings Ltd. (private; multi-jurisdiction; Changpeng Zhao "CZ" founder + majority shareholder; CZ stepped down Nov 2023; Richard Teng current CEO)** | Coinbase Global Inc. (NASDAQ: COIN; widely held) | Kraken (Payward Inc.; private; US-registered) | OKX (private; Seychelles-headquartered) | Exodus Movement Inc. (NYSE American: EXOD) |
| Type | **World's largest crypto exchange by trading volume (41.1% global spot in Jun 2025) + 300M+ users + $34T 2025 annual trading volume + BNB Chain (Binance's own blockchain)** | US's largest crypto exchange + 108M+ customers + 60-65% US crypto exchange trading volume + 6.9% global + NASDAQ-listed | US-registered crypto exchange + Federal Reserve master account approved Mar 2026 (one of first crypto-native firms with direct access to Fed payment rails) | Major Web3 wallet + centralized exchange | Non-custodial multi-chain wallet |
| Country | Global (UAE base; restricted in US, UK, NL, DE) | US primary + global | US + UK + CA + global | Global (Seychelles base) | Global |
| Users | **300M+ users (Dec 2025); $34T 2025 trading volume; 180K daily new accounts; $20B+ daily spot trading; $162.8B user assets; 1,630 trading pairs** | 108M+ customers; 60-65% US crypto exchange trading volume | 13M+ registered users + 5.2M funded accounts (Q3 2025); $561.9B Q3 2025 trading volume; $648M Q3 2025 revenue (+114% YoY); $59.3B assets on platform (+89%) | Major Web3 wallet | Multi-million users |
| Distinctive | **Jul 2017 CZ-founded in China; 2017 moved out of China post-crackdown; 2018 became world's #1 by trading volume; 2019 Binance.US separate US entity; Nov 2023 CZ stepped down + $4.3B US AML settlement; 2025 ADGM FSRA full authorization + 29 global certifications (ISO + SOC); 1,630 trading pairs; BNB Chain own blockchain; Binance Earn + Binance Pay + Binance NFT + Binance Wallet (Web3) + Binance Card** | NASDAQ-listed (since 2021); US's largest crypto exchange; 60-65% US crypto exchange trading volume | Federal Reserve master account approved Mar 2026 distinctive (one of first crypto-native firms with direct access to Fed payment rails); Kraken Securities commission-free trading 11,000+ US-listed stocks and ETFs phased rollout from Apr 2025 (10 states + DC); about half Kraken downloads from US + 8% UK + 6% Canada | Web3 wallet major | Non-custodial multi-chain |

## Status

**Active, world's largest crypto exchange by trading volume + 300M+ users + $34T 2025 annual trading volume** <sup>[1][1], [3][3]</sup>:
- **Binance Holdings Ltd.** (private; multi-jurisdiction; CZ-founded Jul 2017; CZ stepped down Nov 2023; Richard Teng current CEO).
- **300M+ users (December 2025)** + **$34T 2025 annual trading volume** (record).
- **June 2025**: 41.1% of all global spot trading volume.
- **2025 ADGM FSRA full authorization + 29 global certifications (ISO + SOC standards)**.
- **180K daily new accounts + $20B+ daily spot trading + 1,630 trading pairs + $162.8B user assets**.
- **BNB Chain** Binance's own blockchain + Binance.US separate US entity.

## Sources

[1]: https://cryptorank.io/news/feed/4230c-binance-2025-trading-volume-users "Binance 2025 Trading Volume Shatters Records with $34T Surpassing 300M Users — CryptoRank"
[2]: https://www.binance.com/ "Binance — official"
[3]: https://blockchainreporter.net/binance-tops-300-million-users-in-2025-as-trading-volume-hits-34-trillion/ "Binance Tops 300M Users In 2025 As Trading Volume Hits ~$34 Trillion — BlockchainReporter"
[4]: https://yellow.com/news/binance-hits-300-million-users-adding-30-million-in-2025-amid-liquidity-dominance "Binance Hits 300M Users Adding 30M in 2025 Amid Liquidity Dominance — Yellow.com"

- [1] [Binance 2025 Trading Volume Shatters Records with $34T — CryptoRank][1]
- [2] [Binance — official][2]
- [3] [Binance Tops 300M Users In 2025 — BlockchainReporter][3]
- [4] [Binance Hits 300M Users Adding 30M in 2025 — Yellow.com][4]
- [crypto-cro] In-corpus: `reports/countries/CRYPTO-global.md`

## Source

Biography extracted from [binance.md](https://docs.barcoder.ai/source/wallets/binance). See `matrix.md` for standards-support matrix if present.