Binance Marks Record Year with 40M New Users in 2023

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Cryptocurrency
exchange Binance saw significant growth in its user base in 2023, according to
its recently released year-end report. The company added over 40 million
registered users this year, representing a 30% increase compared to 2022. It
now has 170 million total registered users globally.

Binance
highlighted the steady adoption growth of its crypto payments , peer-to-peer
trading, and earning products. Its P2P platform saw an 18% increase in trading
volume and a 39% rise in active users.

“By 2023-end, Binance amassed 170 million registered users and offered 1785 trading pairs across 431 different assets,” the company commented in the report.

The company
also invested heavily in compliance and security measures. It spent $213
million on compliance in 2023, up 35% year-over-year, and now holds licenses
and registrations in 18 jurisdictions.

Additionally,
Binance responded to 58,000 law enforcement requests this year to aid
investigations. It also grew the balance of its user protection fund to $1.2
billion.

While
citing strong metrics, Binance stated its greatest achievement was
“maintaining the trust of our growing community.” The company wants
to remain focused on “advancing the freedom of money globally” using cryptos

Cryptocurrency
exchange Binance saw significant growth in its user base in 2023, according to
its recently released year-end report. The company added over 40 million
registered users this year, representing a 30% increase compared to 2022. It
now has 170 million total registered users globally.

Binance
highlighted the steady adoption growth of its crypto payments , peer-to-peer
trading, and earning products. Its P2P platform saw an 18% increase in trading
volume and a 39% rise in active users.

“By 2023-end, Binance amassed 170 million registered users and offered 1785 trading pairs across 431 different assets,” the company commented in the report.

The company
also invested heavily in compliance and security measures. It spent $213
million on compliance in 2023, up 35% year-over-year, and now holds licenses
and registrations in 18 jurisdictions.

Additionally,
Binance responded to 58,000 law enforcement requests this year to aid
investigations. It also grew the balance of its user protection fund to $1.2
billion.

While
citing strong metrics, Binance stated its greatest achievement was
“maintaining the trust of our growing community.” The company wants
to remain focused on “advancing the freedom of money globally” using cryptos

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