The Binance cryptocurrency exchange team presented an annual report in which it indicated that the number of registered clients grew by 47% and exceeded the 250 million mark. The company representatives stated that this figure serves as an important benchmark on the way to the goal of 1 billion clients.

The report also found that Binance’s VIP client base increased by 116% and registered institutional users by 97%. The document also highlighted that with options like Binance Wealth and the revamped Triparty Banking service, the exchange has become a gateway for institutions exploring the innovative potential of cryptocurrencies.

With institutions driving the next wave of adoption, their growing presence on Binance reinforces the platform’s key role in bridging traditional finance and the digital asset sector.

Binance said it has doubled down on its commitment to compliance and security in 2024, investing hundreds of millions of dollars into these key programs. Its internal compliance team has expanded to 650 experts, allowing it to obtain regulatory approvals in 21 jurisdictions.

According to the report, as a result of anti-fraud measures, the exchange prevented potential customer losses amounting to $4.2 billion, with the amount of funds returned amounting to $88 million.