CZ Davos Speech: The Three Main Themes of Cryptocurrency and the New Regulatory Game

Under the spotlight of the Davos Forum, this cryptocurrency giant pointed out that in the next decade, physical banks will drastically reduce, while on-chain national assets, crypto payments, and AI autonomous trading will become new industry pillars.

On January 22, 2026, Binance founder Zhao Changpeng (CZ) delivered an important speech at the “Financial New Era” panel discussion at the World Economic Forum in Davos. He noted that cryptocurrency trading platforms and stablecoins have become mature industries with large-scale applications, and the three major directions for the industry’s future are: asset tokenization at the national level, cryptocurrencies as “invisible” payment channels, and AI agents using cryptocurrencies as native currencies for autonomous trading.

CZ predicts that with the proliferation of cryptography and electronic KYC, physical banks will significantly decrease over the next 10 years. He also candidly admitted that due to the vast regulatory differences among countries, establishing a unified global crypto regulatory framework faces severe challenges.

1. Future Foundations: CZ’s Three Strategic Directions CZ’s core assertion in Davos is that the infrastructure of the crypto industry has been validated, and future growth will focus on three deeply integrated sectors of the real economy.

● National asset tokenization is prioritized. CZ revealed that he is in negotiations with governments of over 12 countries to explore on-chain national assets. Substantive progress has been made, such as Pakistan planning to tokenize up to $2 billion in sovereign debt.

On the technological front, the New York Stock Exchange (NYSE) has also confirmed building a platform for trading tokenized stocks and ETFs.

● Crypto payments are moving from the front stage to the backstage, becoming an “invisible” underlying channel. CZ foresees that crypto and traditional payment methods will deeply integrate in the background, driving large-scale growth in payment services. This is not about replacing existing payment interfaces but enhancing their clearing and settlement efficiency and scope.

● The native integration of AI agents and the crypto economy is a highly sci-fi vision. CZ believes that cryptocurrencies will become the “native currency” for AI agents. In the future, after identifying needs and processing tasks, AI agents can bypass traditional financial intermediaries and directly use cryptocurrencies for payments and value settlement, achieving a fully automated business cycle.

2. Banking Reform: Paradigm Shift in Traditional Financial Infrastructure CZ made bold predictions about the future of traditional banks at Davos, based on the stress tests that crypto financial infrastructure has already passed.

● He recalled the market panic after the FTX collapse in December 2022. At that time, Binance processed about $7 billion in withdrawals in one day, and a total of approximately $14 billion within a week, without any issues. He used this as proof of the resilience of crypto institutions.

● CZ attributes the fundamental risk of banks to the design of “partial reserve systems.” In contrast, he implied that crypto assets represented by stablecoins follow more transparent reserve rules.

● He predicts that online banking promoted by ING is just the beginning, and that crypto technology and electronic KYC will accelerate this transformation. Over the next decade, people will increasingly not need to visit physical banks.

This does not mean banks will disappear, but the entire industry will be redefined. Banks’ core ledger systems may upgrade through integration with stablecoins and tokenized assets, using a “low-risk innovation path” to support new functions like real-time payments.

3. Regulatory Maze: The Ideal and Reality of a Global Unified Framework While pointing out the bright prospects of the industry, CZ also candidly acknowledged the biggest systemic challenge—fragmented global regulation.

● He stated that due to different countries having “different priorities, agendas, and considerations,” establishing a global unified regulatory body is “quite difficult.” These differences manifest in various regulatory approaches.

● For example, the US, Hong Kong, Singapore, and the EU, Japan, South Korea have formed two major regulatory regimes with different focuses. A PwC report indicates that by 2026, global regulatory trends are shifting from rule-making to comprehensive enforcement, and clear frameworks will intensify competition among jurisdictions for crypto hub status.

● Despite the difficulties, CZ expressed hope for establishing a favorable global regulatory framework that encourages innovation, believing it will greatly simplify industry participants’ work. He is spending considerable time exploring the form of this framework and working with governments worldwide.

● The industry is also actively adapting. For example, a Deloitte report states that “asset segregation custody” and strict anti-money laundering (AML) requirements have become the “basic package” for regulating virtual asset service providers (VASPs) in developed economies worldwide.

4. Industry Debate: Meme Coin Frenzy and Rational Future In the context of Davos, which emphasizes global governance and sustainable development, CZ offered a cautious view on the current Meme coin craze, comparing it to past NFT and metaverse booms.

● He clearly pointed out that these assets carry extremely high risks and are highly speculative. He believes that while Meme coins with unique cultural value like Dogecoin may persist long-term, the vast majority of Meme tokens will not last.

● This stance aligns with the overall industry outlook from Binance executives. Binance Co-CEO Richard Teng predicted that 2026 will be a key year for cryptocurrencies transitioning from experimental to mainstream finance.

● This integration means market valuations will increasingly focus on fundamentals such as practical application value, sustainability, and compliance. The frenzy around Meme coins highlights the industry’s rational need to return to value-backed and application-driven development.

5. Trend Resonance: Development Trends Confirmed by Industry Reports CZ’s three major directional predictions are not isolated; the latest reports from top global investment and professional service firms confirm these trends from different angles.

Top venture capital firm a16z, in its outlook on crypto trends for 2026, vividly depicts a future consistent with CZ’s views.

● In payments, the report states that stablecoins have an annual transaction volume of about $46 trillion, nearly three times that of Visa, with the main challenge being establishing “inbound and outbound channels” with the traditional financial system. Several startups are working to integrate regional networks via QR codes and real-time payments, enabling digital dollars to be used directly for daily consumption.

● Regarding AI agents, a16z’s report offers a profound insight: “From KYC to KYA (Know Your AI).” It states that AI agents are currently “ghosts that cannot access banking systems,” and in the future, they will need cryptographic signatures to establish identity, constraints, and accountability—an essential prerequisite for the true operation of the agent economy.

● Deloitte’s report, from an accounting and compliance perspective, reveals another aspect of asset tokenization entering mainstream. With the passage of the US GENIUS (Stablecoin Innovation) Act, corporate use of stablecoins for B2B transfers has “skyrocketed.”

● Meanwhile, how companies recognize and measure crypto assets on financial statements has become an urgent issue. These seemingly technical details are actually signs that asset classes are being genuinely accepted by traditional finance.

When asked about the future of Meme coins, CZ gave a calm response at Davos, comparing the current frenzy to past NFT and metaverse waves, clearly stating that most Meme tokens lacking intrinsic value will be fleeting.

At the same time, the New York Stock Exchange is building a tokenized securities trading platform, and a16z’s report envisions AI agents autonomously exchanging value on-chain using cryptographic credentials. These scenarios outline a clear trajectory: the core narrative of cryptocurrencies is shifting from speculative symbols in retail markets to serious tools for reshaping global value transfer and financial infrastructure.