Changpeng Zhao (CZ), CEO of Binance, one of the biggest exchanges in the cryptocurrency market, believes that the announcement that Facebook will enter the metaverse is extremely positive for the cryptoactives industry.
That’s because, for CZ, Facebook cannot exploit all the functionalities of this new digital universe if it doesn’t use a cryptocurrency in its ecosystem.
In a recent interview, the executive said that including cryptocurrencies in the company’s new bet is a “great way to attract more people” to the digital assets industry.
According to him, Facebook’s own signal to the cryptocurrency market with its Diem project is already a preface to what the social network has been preparing for the future.
“Facebook, in all of its cryptocurrency projects, whether it’s with Libra, now called Diem, or with the Novi digital wallet, is pushing the cryptoactive sector forward,” he told French newspaper Les Échos.
CZ noted that if 1% of Meta’s 3 billion users adopt cryptocurrencies, that means 30 million new users.
So it would be an exponential increase for the entire ecosystem. In this sense, Meta would act as a gateway to the universe of cryptoactives, going beyond Bitcoin.
Asked about his visit to France, CZ said he is looking for an official headquarters for the company. And he considers that the European country has the ideal characteristics to establish a regional headquarters. And maybe even global.
In addition, CZ said it is awaiting approval from the French regulator to operate in the country. The answer will arrive within 6 to 12 months.
“We started our activity as a decentralized organization. But it is important to note that it is not very well received by regulators. However, this industry must be regulated. We are in the process of establishing headquarters at multiple levels: local, regional and global,” he said.
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