Speaking at the BNB Day event in Tokyo, Binance founder Changpeng Zhao predicted that DEXs will one day surpass CEXs in trading volume.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
Binance founder Changpeng “CZ” Zhao has made a bold prediction about the future of crypto trading, claiming that decentralized exchanges (DEXs) will eventually surpass centralized exchanges (CEXs) in trading volume.
Speaking during the BNB Day Fireside Chat in Tokyo, Zhao doubled down on his belief that “DeFi is the future,” citing the recent surge in decentralized protocols such as Hyperliquid and PancakeSwap as evidence that the shift is already underway.
Marking 5 years of relentless growth with @cz_binance leading the celebration at #BNBDay Hong Kong!
Happy #BNBChainTurns5 🥳 pic.twitter.com/nteOW2ePA3
— BNB Chain (@BNBCHAIN) August 29, 2025
CZ told the audience that if he were 20 years younger, he would build two things: a privacy-preserving perpetual DEX and a simple AI trading agent. He sees these technologies as central to the next generation of finance.
The Binance founder’s remarks come as DEXs are already closing the gap with centralized platforms. In Q2 2025, decentralized exchanges recorded a 25% increase in spot trading volume, while centralized exchanges suffered a 28% decline.
The DEX-to-CEX trading ratio hit a record 0.23, its highest ever. PancakeSwap alone processed over $392 billion in quarterly volume, accounting for nearly half of all DEX transactions.
Beyond DEXs, Zhao also shared his perspective on Real World Assets (RWAs) and Digital Asset Treasury (DAT) firms.
He believes RWAs hold enormous long-term promise, though they continue to face challenges around liquidity, KYC compliance, and regulatory hurdles.
Zhao revealed that the BNB Chain is actively investing in RWA initiatives and collaborating with developers to accelerate adoption.
On the other hand, digital asset treasury companies, Zhao explained, make crypto investments more accessible through public markets.
He pointed to single-asset models like Strategy’s Bitcoin strategy or CEA’s BNB holdings as the simplest and most sustainable approaches.
CZ praised Japan’s role in Web3 innovation, recalling that the country was among the first to legally recognize Bitcoin back in 2017. Today, he sees Japan as an ideal hub for blockchain, AI, and robotics projects, given its clear regulations, developer talent, and culture of technological openness.
“I hope to see a dedicated BNB Chain team here,” Zhao said, highlighting that Japan will continue to play a key role in advancing global Web3 adoption.
Although Zhao stepped down as Binance CEO in 2023, he is deeply tied to the crypto ecosystem.
He described his role in the BNB Chain as more of a motivator than a manager, revealing that a large portion of his personal wealth is tied to BNB holdings, reinforcing his long-term commitment to the ecosystem.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
