The Binary Summit Bangkok: Onboarding Next Wave of Web2 Users Via Telcos and Loyalty Programs

The Binary Holdings, Web3 infrastructure provider, held its inaugural summit in Bangkok on 8th-10th May to announce several ambitious goals, one being – to be the world’s largest Web3 company and onboarding a potential billion users with the integration of largest telecommunication companies in Asia.In one of the panels, The Binary Holdings CEO Manit Parikh quoted that the current valuation of the Web3 infrastructure company to be at $17 billion. In December 2024, the company raised $5 million in a strategic investment from ABO Digital. Based in Dubai, The Binary Holding’s web3 infrastructure allows applications to reach users in their ecosystem and offer services to those users and reward them with loyalty points, which can later be redeemed for various services. The loyalty points are distributed in the native Binary Holdings tokens. BNRY is built on the Optimism blockchain, utilizing a Layer 2 rollup infrastructure developed by The Binary Holdings (TBH). The network operates on the OP Stack, Optimism’s modular framework. But What Exactly is TBH Building?At its core, The Binary Holdings is creating a Web3 infrastructure layer that plugs directly into Web2 ecosystems—primarily mobile networks and financial services. The company’s loyalty engine allows app developers and businesses to offer users real-time rewards in the form of native tokens, which can then be redeemed for services within a broader partner ecosystem. Parikh told Cryptonews:“We’re creating a frictionless loyalty system where time and attention—not just spending—generate value. In Southeast Asia, mobile-first users don’t want to wait months to redeem points. They want rewards now, and they want them to matter.”Chain Abstraction and the “Web2.5” Middle GroundWhile the summit’s tone was unmistakably bullish, the panels also leaned into realism—specifically around user onboarding challenges in crypto. A key talking point that echoed through multiple sessions was the emergence of a “Web2.5” strategy, a concept referring to Web3 backend architecture with a Web2 front-end experience.Parikh explained that while chain abstraction—the ability to hide complex blockchain interactions from end-users—is crucial, it’s just one piece of the puzzle.“At TBH, we’re embedding Web3 utility within everyday mobile and financial experiences,” he said. “Our users don’t need to know they’re interacting with crypto to benefit from it.”That sentiment was echoed by several participants who noted that the average consumer in emerging markets isn’t looking for a DeFi protocol—they’re looking for usable, rewarding apps that make life simpler.“We’ve focused on building consumer-ready dApps that are intuitive, fast, and purpose-driven—whether it’s earning rewards, playing games, or accessing financial services,” Parikh added.Telcos as Web3 Gateways?One of TBH’s more distinctive strategies lies in leveraging telecommunication giants as distribution rails. According to Parikh, legacy enterprises—especially telcos—are “perfectly positioned to be Web3’s biggest onramps.”“They have scale, trust, and user bases in the hundreds of millions. But what they’ve lacked is infrastructure that feels native and easy to adopt. Web3 doesn’t need to replace them—it needs to empower them.”The integration is pitched as beneficial for both parties: telcos and consumer apps can drive higher ARPU (Average Revenue Per User) and unlock new revenue streams through tokenized services, while users get more engaging digital experiences without even realizing it’s all running on-chain.A Nightcap Hinting at MoreAs the panels wrapped up and the networking began, guests moved into an open-air lounge for the evening’s closing celebration. With champagne flutes in hand and Thai street food-inspired canapés making the rounds, Parikh teased at some major partnerships on the horizon and gave investors a sneak peek at a prototype product—one that, if whispers around the room are to be believed, could ruffle feathers among both Web2 giants and Web3 purists alike. The post The Binary Summit Bangkok: Onboarding Next Wave of Web2 Users Via Telcos and Loyalty Programs appeared first on Cryptonews.