Dubai Hosts Binance Blockchain Week 2025 as Richard Teng Reflects on Growth and Yi He Steps In as Co-CEO

Binance Blockchain Week 2025 opened today in Dubai with a high-energy address from CEO Richard Teng, marking both the UAE’s 54th National Day and the start of one of the most closely watched events in the digital-asset calendar.

Teng pointed out the UAE’s agility, innovation, and strategic vision as reasons why Binance continues to anchor major global events in the region. He reflected on his personal connection to the country, dating back a decade to his work in establishing Abu Dhabi Global Market as an international financial center.

Stablecoins Lead a Record Year for the Industry

Teng dedicated a huge portion of his keynote to the rapid expansion of stablecoins, calling them one of crypto’s “killer applications.”

He reported that:

• Global stablecoin market capitalization surged nearly 50% this year.
• Wallets holding stablecoins also rose 50% to reach 130 million.
• Daily stablecoin transaction volume has surpassed Visa, a milestone “unimaginable just a few years ago.”
• Stablecoin payment volume now exceeds $10 billion daily, underscoring crypto’s evolution into a global financial infrastructure layer.

Regulatory clarity, including progress in the U.S., has been a major catalyst for this adoption, Teng noted. He adds that emerging markets such as Bhutan, which launched the world’s first nationwide crypto payments system using Binance Pay, as examples of forward-looking digital transformation.

Binance Growth, Security Focus, and Institutional Momentum

Teng revealed that Binance now serves close to 300 million users worldwide, while Binance Pay merchants have jumped from 12,000 to nearly 21 million in a single year. The platform has processed more than $272 billion in transactions through Binance Pay alone.

He also pointed to deeper institutional participation, citing partnerships with firms such as BlackRock and Franklin Templeton as evidence of a maturing market.

User protection remains the company’s “central priority,” Teng said, announcing that Binance prevented almost $7 billion in potential scams in 2025, safeguarding an estimated 9 million users.

Teng also outlined new AI-driven initiatives intended to simplify trading and improve user experience, and unveiled Binance Junior, a supervised app designed for users aged 6–17 to learn digital finance responsibly.

Yi He Appointed Co-CEO, Strengthening Binance Leadership

In one of the event’s most important announcements, Teng named Binance Co-Founder Yi He as the company’s new Co-CEO.

He described Yi He as a “driving force since day one,” credited for shaping Binance’s culture, vision, and user-centric approach. Her appointment, he said, reflects the natural evolution of her leadership and the company’s commitment to scaling toward its mission of reaching 1 billion users.

The opening concluded with Teng welcoming UAE AI Minister H.E. Omar Sultan Al Olama to expand on the country’s forward-looking digital strategy.