CZ: Establishing a legal currency OTC channel that complies with supervision is a key issue at present

Odaily News CZ spoke at the Virtual Fireside Chat: CZ session of the Singapore TOKEN2049 conference: In fact, in my opinion, the key is the OTC channel for exchanging fiat currencies for cryptocurrencies. Everyone has different concerns. This is what we see. The crux of the matter. At the beginning of this year, due to the strengthening of regulatory policies, we saw many traditional institutions withdrawing from the OTC market. But at the same time, we also saw some new institutions enter the market. This industry already has tens of millions of users. I Think doubling the number of users could take the industry to a billion users. For most banks, if they only serve one country, they will get very few users. If they get 1 billion users, So it is already very large for a bank. We can bring tens of millions or even hundreds of millions of users to these traditional financial institutions and benefit a lot from it. Therefore, we see that many traditional financial institutions want to obtain The opportunity. So I think while its important for people to focus on the more advanced use cases of cryptocurrencies, in order to attract more people to cryptocurrencies, we have to convert fiat currencies into cryptocurrencies and vice versa.