Foreign media: After the regulatory shock of 2023, the currency has pushed the size of the user to over 300 million and continues to expand its advantages in terms of liquidity, stable currency reserves and institutional operations. According to the article, the current market for the Centralized Exchange has gradually become divided into three different models: coin, Coinbase and OKX.
Users and liquidity remain concentrated
According to the article, François has reached 323 million users, the first encryption exchange to break 300 million users. Its core advantages are not just tariffs, but deeper liquidity.
For large traders, the depth of the transaction and the quality of implementation are usually more important than the fees. According to the article, the cycle of more users, which brings more liquidity and thus attracts more institutional funds, has helped to continue to increase market share.
Three exchanges are moving in different directions.
The article sums up the headline centralization exchange in 2026 as three paths:
- Money-fixing global liquidity and trade activity
- Coinbase focuses on hosting ETF-related assets
- OKX emphasizes the integration of trade infrastructure with CeDeFi
According to Arkham Intelligence, Currency and Coinbase are the two largest types of encrypted entities in the global chain, but the structure of the assets varies significantly. According to the article, a significant part of the bitcoin held by Coinbase is related to the United States real bitcoin ETF hosting; the assets of the coin are more reflected in exchange liquidity and user assets.
Among them, the difference in the stable currency is particularly marked. According to the article, the USDT held by Currency was about $41.04 billion, while Coinbase was about $407 million. This is seen as a direct reflection of the different business priorities of the two platforms: the former favour global transaction liquidity and the latter favour institutional hosting.
Stabilizing currency and institutional business as an extension point
According to the article, stable currency reserves are one of the advantages of less being fully discussed by the outside world. By the first half of 2026, the total amount of the platform ' s stable currency had exceeded $54 billion. The more the stable currency is concentrated, the easier the platform will be to create a greater depth of trade and liquidity.
In terms of institutional operations, the article states that currency is gradually moving towards a more visible institutional path, including growth in off-site transactions, expansion of fund accounts, increase in wealth products and the introduction of off-site settlement services. This means that its role is shifting from a single trading platform to a more complete encrypted financial infrastructure.
Regulatory pressure shifts to compliance expansion
The article recalls that in 2023, Currency was subjected to significant regulatory conciliation, litigation by United States regulators and global censorship. By 2026, however, the Platform had upgraded its compliance inputs to a higher level and was working with global law enforcement agencies to handle a large number of requests.
It is also mentioned that the United States Securities and Exchange Commission agreed to cancel the exchange. After the remaining proceedings, the legal uncertainty surrounding BNB decreased and institutional confidence improved. The article considers it one of the most important legal developments in recent years.
Additional information:The article also mentioned that the extension of the currency ecology was not only reflected in the exchange business, but also included the use of BNB Chain, payment services and BNB chains. It states that the cumulative number of independent addresses of BNB Smart Chain has exceeded 870 million, indicating that its platform operations and chain ecology continue to expand in tandem.