CZ Admits Underestimating RWA Market Growth, Now Sees Its Appeal
Binance's founder Changpeng Zhao has admitted to underestimating the growth potential of the RWA (real-world asset) market, which he now understands is attractive due to its ability to tokenize traditional financial assets on blockchain networks.
In a recent interview, CZ said that just over a year and a half ago, he did not expect the RWA market to grow to its current scale. However, as more U.S. Treasuries, stocks, and private credit are being tokenized, global financial firms and crypto companies are moving in to build related products and infrastructure.
CZ also acknowledged that he failed to anticipate the growth of NFTs (non-fungible tokens) and meme coins, stating that in many cases, he only understood their appeal after they had already become popular.