Binance pivots EU strategy as Richard Teng targets Asian expansion

Teng, speaking at the Reuters NEXT Asia event in Singapore, characterized the withdrawal of the Greek application as a strategic move to preempt potential service disruptions for users during the transition toward the EU's 2026 MiCA compliance deadline. Despite the regulatory hurdles, the exchange remains committed to securing a foothold within the bloc, viewing the setback as a pause rather than a retreat.

Beyond Europe, the company is accelerating its footprint in the Asian market, recently finalizing a partnership with the Philippines-based Blockshoals Technologies. Teng remains unmoved by the recent 30% decline in bitcoin’s value, pointing to a shift in market dynamics. While previous cycles were driven primarily by retail traders, he noted a 9% increase in institutional client onboarding this year, suggesting that corporate interest is providing a necessary foundation for a more resilient digital asset ecosystem.