Binance co-founder and Canadian entrepreneur Changpeng "CZ" Zhao is promoting a new crypto passport for use across Asia.
CZ discussed the crypto passport and how it would work during a discussion at the ASEAN Tech Summit Manila 2026 held in the Philippines.
The session covered digital assets, stablecoins and the future of regional finance.
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CZ, who is from Vancouver, said he supported a proposal to grant crypto companies licensed in one Asian nation a "passport" that would simplify regulatory approvals elsewhere in the region.
The passports would effectively allow crypto companies to operate in every Asian market.
Crypto companies in Southeast Asia currently face separate licensing processes, compliance checks, and supervisory requirements.
CZ argued that recognizing some work completed by another regulator could reduce duplicate filings and lower market-entry costs.
A common process could also make regional expansion easier for crypto exchanges, custodians, and stablecoin payment providers, said CZ.
To date, no regulator or governance body in Asia has announced a crypto passport or target date for such a product.
The comments from CZ come as Binance, a crypto exchange, seeks more regulatory approvals across Asia.
Currently, different countries in Asia regulate digital assets through different laws, agencies, and product classifications focused on capital reserves, cybersecurity, custody, and disclosures.
Binance is privately held and its stock does not trade on a public exchange.
Bitcoin (CRYPTO: $BTC), the largest cryptocurrency, is trading at $62,950 U.S. on July 28.