Binance CEO sees no threat to crypto from central banks' digital currencies

FILE PHOTO: Zhao Changpeng, founder and chief executive officer of Binance, attends a conference at Porte de Versailles exhibition center in Paris, France June 16, 2022. REUTERS/Benoit Tessier/File Photo

LISBON (Reuters) - Plans by central banks to launch digital currencies are not a threat to other cryptocurrencies as they would validate blockchain technology and build trust among sceptics, the CEO of the world's largest crypto exchange, Binance, said on Wednesday.

Most major central banks, including the U.S. Federal Reserve, the Bank of England and the European Central Bank, are studying the potential launch of a digital version of their currencies, dubbed CBDC.