Binance CEO Richard Teng: “On-Chain Peer-to-Peer Adoption Is Possible—But Regulatory Alignment Is Key”

From Binance Cards to direct crypto payments, Teng highlights user demand and jurisdictional challenges in enabling seamless P2P transactionsDuring the CEO Connect: May Edition, Binance CEO Richard Teng addressed the growing interest in on-chain peer-to-peer (P2P) transaction adoption, emphasizing that while the technology is ready, the regulatory environment remains the key factor.Binance Card: A Real-World Example of P2P AdoptionThe Binance Card enables users to spend their crypto assets for everyday purchases, acting as a bridge between blockchain infrastructure and traditional financial systems. According to Teng, it represents a foundational step toward broader P2P transaction functionality.Navigating Global Regulatory LandscapesDespite the demand, Teng acknowledged that Binance operates within the regulatory frameworks of each country, which affects the speed and scope of P2P implementation.“We try to work within the limits of each country’s laws and policies. Regulation is a big part of what makes P2P adoption feasible or not,” he said.This means peer-to-peer on-chain payments may become more widespread gradually, as governments and regulators align with the evolving nature of blockchain-powered finance.