Binance Reaches 300 Million Users as European Banks Accelerate Crypto Integration

Binance Continues Growth Trajectory

The world's largest cryptocurrency exchange Binance has reached a significant milestone: the platform now counts more than 300 million users across over 100 countries ^[1]. This announcement underscores the rapid growth of the trading platform in recent months.

Growth is not limited to user numbers alone. Just under three weeks ago, Binance announced that 21 million merchants offer Binance Pay payment services—an impressive 1,700 percent year-over-year increase ^[1].

Expansion in Institutional Business

Alongside retail growth, Binance is also making progress in the institutional sector. In mid-November, the exchange entered into a partnership with Franklin Templeton and integrated BlackRock's BUIDL Fund on its platform ^[1].

The leadership structure has also been restructured: Richard Teng and Yi He will now share chief executive responsibilities ^[1]. Market observers interpret this move in part as preparation for a possible comeback of founder Changpeng "CZ" Zhao, who was pardoned by U.S. President Donald Trump in October ^[1].

French Megabank Launches Crypto Trading

While Binance expands its market dominance, European banks are increasingly pushing into the crypto market. French banking group BPCE, the country's second-largest financial institution, is launching in-app cryptocurrency trading, according to media reports ^[2].

Crypto purchases and sales are conducted through a dedicated digital asset account within banking apps, managed by Hexarq, BPCE's crypto subsidiary ^[2]. The offering is fee-based: users pay a monthly fee of €2.99 plus a trading commission of 1.5 percent per transaction with a minimum of $1.16 ^[2]. A benefit for customers: they do not need external exchanges or third-party wallets ^[2].

Intense Competition in Europe

BPCE's move comes against the backdrop of increasing competition between traditional banks and crypto-friendly fintechs such as Revolut, Deblock, Bitstack, and Trade Republic, which all provide access to digital assets ^[2].

Other European financial institutions have taken similar steps. Spanish BBVA enables its customers to directly buy, sell, and hold Bitcoin and Ether in its app ^[2]. Santander's digital arm Openbank offers trading and custody for five cryptocurrencies ^[2], while the Vienna unit of Raiffeisen Bank cooperates with Bitpanda to provide crypto services to retail customers ^[2].

Tax Challenges in France

Parallel to the increasing integration of crypto services, France is tightening its tax policy. French lawmakers narrowly passed a legislative change last month that expands the wealth tax on "unproductive assets," including certain real estate, luxury goods, and digital assets such as cryptocurrencies ^[2].

Under the amendment, individuals with more than $2.3 million in qualifying "unproductive assets" would be subject to a new flat tax of 1 percent ^[2]. However, the proposal must still pass the Senate as part of the 2026 budget process before it becomes law ^[2].