Binance, the world’s largest cryptocurrency exchange by trading volume, is considering a move into the telco space.
This was revealed in an interview with The Block by Binance CEO Changpeng Zhao. When asked about the possibility of Binance offering a telecom service, Zhao said that the company was “definitely” considering it.
“We are definitely considering it. It’s one of the areas where we see a lot of potential for crypto to disrupt,” said Zhao.
He added that Binance was looking at “a lot of different areas” and that telecom was “definitely one of them.”
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This is not the first time that Binance has expressed interest in the telecom space. In August 2018, Binance launched a $1 billion fund to invest in blockchain and crypto startUPS, with a focus on the telecom sector.
At the time, Binance said that it saw “huge potential” in the telecom sector and that it was “looking to invest in companies that are using blockchain to revolutionize the telecom industry.”
Binance is not the only cryptocurrency exchange that is looking at the telecom space. In February 2019, OKEx, another major cryptocurrency exchange, launched a $10 million fund to invest in blockchain projects in the telecom sector.
With its massive user base and its history of investing in blockchain and crypto startUPS, Binance is well positioned to make a move into the telco space. And with its recent announcement that it is considering such a move, it seems only a matter of time before Binance launches its own telecom service.