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Synopsis: India’s young, tech-savvy population is leading global crypto adoption at the local level, says Binance co-CEO Richard Teng. Despite regulatory uncertainty, India ranks highest in crypto adoption index, making it crucial for the industry’s growth.
India has gradually become the first country to adopt crypto at the local level. This comes at a time when digital assets are receiving renewed attention globally. Binance Co-CEO Richard Teng recently highlighted India’s leading position in crypto adoption during an interview at Davos 2026. He highlighted that India’s young, tech-savvy population is behind this remarkable growth. Meanwhile, the global crypto landscape is experiencing major regulatory changes, particularly in the United States and Europe.
Despite operating in a regulatory gray area, India continues to dominate popular adoption. Many global financial leaders who once doubted crypto have now become believers. Teng noted that understanding technology often turns skeptics into supporters. This change in perception could also influence India’s regulatory approach.
Where India Stands in Global Crypto Adoption
India ranks first in local crypto adoption index. Teng cited data from Chainalysis to support this claim during his recent media interaction. The country’s young population is showing keen interest in digital assets and blockchain technology. This enthusiasm exists even if crypto trading operates in a regulatory gray area.
India allows digital assets and central bank digital currencies (CBDCs), but lacks clear rules for trading cryptocurrencies. Teng believes that deeper knowledge transfer can change the way regulators view cryptocurrencies. He noted that lack of understanding sometimes causes unnecessary concern among policymakers. Furthermore, he mentioned that prominent global financial leaders had changed their positions after discovering blockchain technology.
Binance has set itself an ambitious goal: to reach one billion users worldwide. India remains essential to achieve this goal, according to Teng. He previously described the CBDC trial in India as strategically important for the crypto ecosystem. This trial could help the central bank better understand blockchain technology and its potential applications.
Market structure
Global crypto momentum continues despite recent price corrections from all-time highs. Teng stressed that the underlying structure of the market remains strong and resilient. Binance crossed 300 million users last year and processed approximately $34 trillion in trade value. The exchange has also obtained a full global license from Abu Dhabi Global Markets.
Additionally, Binance has welcomed over 60 million new users every year for the past two years. Institutional volumes on the platform increased by more than 20% during this period. Corporate treasuries are now increasingly using cryptocurrencies and stablecoins for efficient capital movement. These tools allow businesses to transfer funds globally 24/7 at a lower cost.
Binance recently expanded its offering by adding gold and silver perpetual contracts. The company plans to further diversify its asset classes based on strong market demand. This expansion reflects growing investor interest in tokenized traditional assets beyond cryptocurrencies.
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Clarity of American regulations
The United States has taken decisive steps to establish clear crypto regulations. Legislation such as the Clarity Act and the GENIUS Act provide much-needed regulatory frameworks. These laws position the United States as the global capital of AI and blockchain innovation. Teng welcomed this approach and said these technologies will boost future economic growth.
The GENIUS Act, signed in July 2025, created the first federal framework for stablecoins. It allows banks, credit unions and non-banks to issue stablecoins under clear oversight. Compliant stablecoin issuances are exempt from the classification of securities and commodities under this framework. As a result, the stablecoin’s market capitalization increased by more than 50%, while trading volumes more than tripled.
Teng argued that regulatory clarity has become a competitive advantage for nations. He warned that other governments need to rethink their approach to AI and blockchain. Countries that delay risk losing their competitiveness in the global digital economy. Europe is also moving forward with MiCA, a comprehensive regulatory framework for crypto service providers.
Traditional finance and blockchain converge in 2026
The year 2026 could mark a turning point for global financial markets. Traditional finance, blockchain technology and digital assets are increasingly converging. Asset tokenization and crypto payments are increasingly being adopted by governments and financial institutions. Tokenization of real-world assets enables 24/7 trading and better risk management capabilities.
Even traditional exchanges are exploring on-chain models to support 24-hour trading. Real estate and other tangible assets represent major growth areas for tokenization. Stablecoins have become a “killer application” for the crypto industry. They enable instant, low-cost cross-border transfers compared to slow traditional banking systems.
Binance remains regulated by the Financial Intelligence Unit of India and continues to collaborate with policymakers. Increased awareness and education could help India move towards a more favorable framework. Despite market volatility, regulatory clarity, institutional adoption, and tokenization are driving the next phase of crypto growth.
Written by Fazal Ul Vahab CH
