Binance CEO CZ said at the Token 2049 conference in Singapore, "in my opinion, establishing an OTC channel for fiat currencies to cryptocurrencies is the key right now."

He said that at the beginning of this year, many traditional institutions withdrew from the OTC market due to the strengthening of regulatory policies. But at the same time, some new institutions have entered the market. The industry has tens of millions of users right now.

"We can bring tens or even hundreds of millions of users to traditional financial institutions and benefit from it. So we're seeing a lot of traditional financial institutions wanting to get that opportunity."

He believes that while it is important for people to focus on more advanced use cases of cryptocurrencies, in order to attract more people to join cryptocurrencies, fiat currencies must be converted into cryptocurrencies and vice versa.