Binance founder CZ(CZ) attended the World Economic Forum (WEF) in Davos, Switzerland on January 22, 2026, and delivered a speech at the "New Era for Finance" panel discussion, sharing his observations on the development stages and future direction of the cryptocurrency industry.
Exchanges and stablecoins are mature sectors that are difficult to replicate.
CZ first pointed out that, from the perspective of the entire crypto industry, there are only two application scenarios that have truly stood the test of time and achieved large-scale operation: exchanges and stablecoins. He believes that the market size of these two areas is already quite large, and it is extremely difficult for newcomers to replicate their success. This also means that the future growth momentum of the industry will come from other directions with more structural changes.
Asset tokenization is seen as the biggest potential engine.
When discussing the most promising areas for future development, CZ specifically named "tokenization." He revealed that he is currently discussing the feasibility of asset tokenization with "about a dozen governments," hoping to assist them in converting physical assets such as infrastructure, real estate, and commodities into tokens on the blockchain.
CZ pointed out that if asset tokenization is promoted at the national level, it can not only achieve more efficient financing, split ownership, and improve liquidity, but also unlock trillions of dollars in asset value and improve the efficiency of government financial management and industrial development. He predicts that by around 2030, the size of the tokenized asset market may have a profound impact on the global financial system.
The breakthrough in encrypted payments lies in the "invisible backend".
Regarding crypto payment applications, CZ frankly stated that over the past decade, cryptocurrencies have not become the widespread direct payment tool for daily consumption that some early predictions anticipated. Most users still prefer to complete transactions using credit cards or traditional payment methods.
He believes a more pragmatic and scalable model will be a "hidden back-end" payment architecture: users outwardly pay in familiar ways, while back-end settlement is handled by stablecoins or blockchain, with merchants ultimately receiving fiat currency. This hybrid model can effectively reduce costs and accelerate cross-border settlements; once it becomes mainstream, crypto payments will have a real chance to achieve large-scale adoption.
AI will use cryptocurrency as a native payment tool.
On the topic of artificial intelligence (AI), CZ offered a more forward-looking perspective. He predicts that cryptocurrency will become the "native currency" of AI agents. When AI is able to act autonomously, book tickets, make payments, or perform tasks, the traditional credit card system will not be suitable, and blockchain and cryptocurrency will become the most natural and efficient technological medium.
He believes that the combination of AI and encryption will give rise to a completely new economic model, enabling AI to conduct micro-transactions and instant value transfers without human intervention, bringing new growth momentum to the digital economy.
The transparency of blockchain highlights the risks of traditional financial systems.
When discussing the traditional banking system, CZ stated that technology itself does not create new risks, but rather accelerates the exposure of existing problems. He pointed out that the "fractional reserve system" on which traditional banks have long relied is inherently prone to triggering bank runs and liquidity crises.
In contrast, he cited Binance as an example, pointing out that the platform processed approximately $7 billion in user withdrawal requests in a single day in 2023 without experiencing systemic pressure, highlighting the advantages of blockchain in transparency and instant settlement. He anticipates that within the next 10 years, people's reliance on physical bank branches will decrease significantly, with digital KYC and blockchain technology gradually replacing many traditional financial processes.
Regulatory fragmentation persists; crypto is undergoing a long-term evolution.
On regulatory issues, CZ also maintained a pragmatic attitude. He pointed out that the global regulatory environment is highly fragmented, and a unified global crypto regulatory body is unlikely to emerge in the short term. Countries will continue to formulate different regulations based on their own conditions. In this context, the development of the crypto industry should focus on long-term evolution and gradual implementation, rather than expecting a quick and unified regulatory solution.
Shift from bull market narrative to infrastructure narrative
Overall, CZ's speech at Davos did not focus on market trends or short-term price performance, but clearly conveyed a message: the crypto industry is entering a new phase of "infrastructure + long-term evolution." Whether it's the tokenization of assets at the national level, the development of invisible payment systems, or the development of the AI-native economy, cryptocurrencies are gradually integrating into the real economy and mainstream institutions.
