Interview With BingX CPO Vivien Lin: What do you think about BRC20 and BingX’s strategy in 2024?

1. Could you please introduce your personal background?

I pursued a degree in Finance during my college years, followed by an academic sabbatical where I explored the fields of Psychology and Computer Science. This interdisciplinary study has provided me with a blended perspective of financial acumen, insights into human behavior and technological innovation.

I’ve spent nine years in investment banks, some well known houses such as Morgan Stanley, BNP and Deutsche Bank. I traded structured products and crafted investment solutions for institutions looking to tap into international markets for funding. Before joining the team at BingX, I was with another top crypto platform, leading their financial product division.

This article is sponsored by BingX

2. Why did you choose to shift from the traditional financial market to the cryptocurrency market?

Shifting from the well-established corridors of investment banking to the dynamic realm of cryptocurrency is a journey brimming with unique incentives. It’s where traditional finance meets the cutting-edge of fintech, offering an arena ripe for innovation and influential strides. In crypto, one’s role transcends the conventional, offering a platform for direct impact and shaping of an industry still writing its rules. This sector thrives on an entrepreneurial verve, a stark contrast to the more measured pace of banking, fostering an environment where creativity and strategic thinking are paramount. Culturally, it’s a leap from the regimented to the revolutionary, embracing a rhythm of rapid evolution and openness to novel ideas. Moreover, the financial landscape of crypto, teeming with growth and potential, presents lucrative opportunities often unparalleled in the mature banking sphere. For those drawn to challenges and eager to play a pivotal role in an emerging financial frontier, the transition to cryptocurrency offers compelling professional enrichment.

3. From an insider’s perspective, what is the real attitude of traditional financial giants like Morgan Stanley and Deutsche Bank towards the cryptocurrency market?

While they initially approached this digital frontier with skepticism, the potential of cryptocurrencies and blockchain technology to innovate and streamline traditional banking processes hasn’t gone unnoticed. In the ever-evolving landscape of finance, traditional powerhouses like Morgan Stanley and Deutsche Bank are cautiously dipping their toes into the cryptocurrency pool. JP Morgan and Goldman already set up their crypto asset trading desk and other companies are planning to follow suit. Driven by a surge in client interest, these financial giants are gradually embracing crypto, albeit with a keen eye on regulatory guidelines and risk management. It’s a dance of curiosity and caution as these institutions navigate the new, dynamic world of digital assets.

4. Recently, BingX has responded quickly to the inscription ecosystem. Is this a major direction for BingX in the near future? How does the exchange view the development of the inscription ecosystem?

The BRC20 and Ordinals represent recent advancements in blockchain technology, with the BRC20 market rapidly evolving into a hub of activity. BRC20’s simplicity is its defining feature: it allows anyone to issue and there are no complex derivatives such as smart contracts. Nonetheless, this approach just aligns with the Bitcoin community’s aspirations for innovation and experimentation.

The importance of BRC20 is further magnified by Bitcoin’s influential role, its extensive user base, and the interplay of sentiments and values with other blockchain assets. As a part of the Bitcoin ecosystem, BRC20 leverages the community’s consensus, marking a significant development for Bitcoin. It represents not just a progression in the BTC NFT ecosystem but a transformative phase for Bitcoin as a whole.

BRC20 addresses the need for equitable trading practices, particularly evident in the meme coin market, where the influence of major holders on price is a known concern. It promises a fairer trading environment where token issuance is transparent and pricing reflects the collective consensus, not the dominance of a few. This is exemplified in high-profile projects like ORDI, where fairness in distribution and unique historical aspects create intrinsic value. With the anticipated Bitcoin halving, which will reduce supply and potentially increase prices, the narrative around Bitcoin is evolving. The rise of BRC20 coincides with this shift, laying the groundwork for Bitcoin’s transformation into a more robust currency. This development is welcomed by miners, who benefit from increased transaction fees driven by the growth of both the Ordinals and BRC20 markets.

At BingX, we recognize the potential of the BRC20 ecosystem and are committed to its growth. We actively seek partnerships with high-caliber BRC20 projects, offering our investors a seamless trading experience with a range of sophisticated tools. While the BRC20 track has shown remarkable growth, we advise caution due to potential congestion issues and the proliferation of BTC meme coins. Our goal is to provide a platform that supports the evolving needs of the blockchain community while maintaining a focus on quality and sustainability.

5. What is the market share of BingX in different countries at present? What are the key markets?

In 2023, BingX achieved a significant milestone by reaching 10 million users worldwide, marking a remarkable achievement for the rapidly expanding crypto exchange.

At our company, we take pride in our extensive experience and success in markets such as Argentina, Vietnam, and Taiwan. With dedicated localized teams and a leading market share, we’ve established ourselves as pioneers in these regions over the past three years.

As we continue to expand, we’re focusing our efforts on the CIS market and Turkey, recognizing their substantial potential for our business. By concentrating on these regions, we aim to replicate our previous successes and further solidify our position as a market leader.

Additionally, we’re thrilled by the enthusiasm and readiness of emerging markets like the U.A.E and Brazil to adopt digital currencies. We see tremendous opportunities to introduce our innovative products and services to users in these markets, facilitating their adoption and growth.

Overall, we’re excited about the future prospects of our expansion initiatives and remain dedicated to providing high-quality services to users worldwide.

6. What is your view on compliance, and what progress has been made in this area?

At BingX, we have a firm belief that embracing and supporting progressive compliance measures is essential to our mission of providing a secure and transparent trading environment. We do not see progressiveness and compliance as being at odds; in fact, we see them as complementary forces that guide our operations.

Our perspective is that by fostering a compliance-first approach, we actually enable and promote innovation within the cryptocurrency trading sphere. It’s about establishing trust with our users by ensuring their interests are protected, which is foundational for the long-term success and adoption of digital asset trading.

As we expand globally, the importance of working alongside regulators and authorities becomes ever more paramount. We view these relationships not as a hindrance but as a partnership aimed at crafting a robust legal framework that benefits all stakeholders. By collaborating with authorities, we aim to stay at the forefront of regulatory compliance, thereby ensuring that our operations are not only legally compliant but also setting the standard for best practices in the industry.

At BingX, we’re committed to pioneering a path that others in the industry can follow, ensuring that as the digital asset market evolves, it does so in a way that is responsible, secure, and sustainable for everyone involved.

7. What are the strategic plans for 2024?

At BingX, we’ve weathered two rounds of bear markets since our founding in 2018. Our success stems from our unwavering focus on users and continuous innovation, principles that remain unchanged in 2024:

● In the highly competitive crypto exchange landscape, we recognize the need for user-friendly interfaces. We’re committed to developing straightforward trading tools that simplify user experience, reducing reliance on complex instructions. This initiative is a key part of our strategy to meet the evolving needs of our users.

● Innovation remains at the forefront of our focus, both in terms of our business model and the products we offer. We understand that staying ahead in this dynamic field requires not only creativity but also a forward-thinking approach.

As we anticipate a new bull market, we’re strategically partnering with key sectors, including BRC20 projects, to bridge the gap between groundbreaking initiatives and their target audience. By fostering these partnerships, we ensure that innovative projects receive the recognition and engagement they deserve.

Furthermore, we’re vigilant in monitoring emerging technologies to enhance security, efficiency, and overall user experience. Integrating these advancements into our platform is essential to providing a streamlined trading experience that aligns with the evolving demands of the digital asset marketplace.

About Vivien

Vivien Lin, Chief Product Officer at BingX, leads the product team with a focus on derivatives, asset management and user experience, actively driving innovations and strategies.

With close to a decade of experience in trading, product management, and market development, Vivien has cultivated her expertise in forex and equity derivative products through pivotal roles at reputable institutions such as Morgan Stanley, BNP Paribas, and Deutsche Bank. Additionally, Vivien has years of experience in well-known crypto exchanges as leaders of financial products, risk management, and new product development, along with a deep understanding of product life cycle and go-to-market strategy.

Leveraging her unique insights and profession, Vivien is dedicated to empowering traders with a dynamic approach that addresses the evolving needs of the users and industry.

https://twitter.com/Vivien_BingX

About BingX

Founded in 2018, BingX is a leading cryptocurrency exchange serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management — all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became Chelsea FC’s principal partner, marking an exciting debut in the world of sports.

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