CoinDesk Podcast Network The $300M Move: Richard Teng on Tokenizing Wall Street
Feb 12, 2026
Richard Teng, Co-CEO of Binance and former regulator in Abu Dhabi, discusses Binance’s leap to 300 million users and its push into institutional services. He outlines the Franklin Templeton program using tokenized money market funds as off-exchange collateral. He also covers regulatory competition, global partnerships, and where new retail and institutional activity is coming from.
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Global License Changed The Game
- Binance secured a global license at Abu Dhabi Global Market and offers regulated protections to its global users.
- Richard Teng says this licensing makes Binance the most regulated exchange globally and supports rapid user growth.
Early Role In ADGM's Development
- Richard Teng notes he helped develop Abu Dhabi Global Market in 2015 and claims some credit for its rise.
- He links that history to Binance choosing ADGM for its global licensing framework.
Tokenized MMFs As Institutional Collateral
- Binance and Franklin Templeton launched an off-exchange program using tokenized money market funds as collateral.
- Richard Teng says institutions can trade on Binance liquidity while keeping assets in regulated custody and earning yield.