WhiteBIT CEO: 570 Million People Use Cryptocurrency
WhiteBIT CEO Volodymyr Nosov highlights how crypto adoption is reshaping finance as Ukraine moves closer to regulation.
Ahead of Ukraine’s crypto law debate, WhiteBIT CEO Volodymyr Nosov spoke with Mezha.Media about global adoption and regulation.
Answering a journalist's question about his personal motivation and the reasons that led him to enter the cryptocurrency business, Nosov said he entered the crypto industry once he recognized blockchain’s global potential. He also emphasized that we are now witnessing the beginning of a new digital economy, as millions of people and large companies are already actively using crypto assets in their work.
Today, we are witnessing the rapid development of digital assets. For example, about 85% of companies with an annual turnover of over $1 billion use them to attract new customers and implement innovations. Overall, according to various data, almost 570 million people worldwide are already actively using cryptocurrencies. I understood that the future belongs to blockchain and cryptocurrencies, as they are the start of a new digital economy. Cash and fiat are already outdated forms of money, and in the future, more and more payments will be made in cryptocurrency.
Speaking about the place of digital assets in the world of traditional finance, Volodymyr Nosov expressed the opinion that they do not and cannot compete with the existing system. On the contrary, their main function is transformation and improvement, which opens up new opportunities for businesses and ordinary users. He emphasized that the advantages of cryptocurrencies, such as transaction speed, lower fees, and a lack of geographical barriers, make them a valuable tool.
I see digital assets not as competition, but as the future of the financial system. Both large and small businesses have already appreciated all the opportunities that cryptocurrency provides – payment speed, lower fees, and geographic accessibility. Today, digital assets can be used to pay for things almost on par with fiat money – in restaurants, taxis, and when buying real estate. And in the U.S., Canada, and some European countries, Bitcoin is accepted for paying local taxes.
I would add that cryptocurrencies are not only a means of payment but also an asset for investing and saving. Along with large companies, more and more ordinary citizens, especially young people who are growing up with modern gadgets and technologies, are investing in Bitcoin. Digital assets do not compete with the traditional financial system but transform and improve it, contributing to the construction of a new digital economy with more efficient approaches.
The Royal United Services Institute (RUSI) has echoed this point, urging Ukrainian regulators to engage directly with the crypto industry to craft rules that are fair and transparent.
At the heart of this debate is WhiteBIT CEO Volodymyr Nosov – a central voice in Ukraine’s digital asset market. His message cuts through the noise: Ukraine must step up and claim its place in the global digital economy.
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