Build and expand your ecosystem

Building one of the busiest blockchain ecosystems today requires focused execution. BNB Chain’s Sarah Song talks about how it’s driving its growth.

What does it take to lead business development in one of today’s most active blockchain ecosystems? To find out, we spoke with Sarah Song, Head of Business Development at BNB Chain, at Binance Blockchain Week in Dubai about ecosystem growth, developer support, RWA, stablecoin payments, and expansion into emerging markets. She also shares her perspective on building credibility in the industry and exploring leadership as a woman at Web3.

question: Sarah, how did you get involved in the blockchain industry? How did you specifically join BNB Chain?

Sarah: In 2017 or 2018, I was invited to an event hosted by HKUST, which is also my alma mater. This event was attended by experts in the cryptocurrency field, and it was there that I first heard about Bitcoin and peer-to-peer digital money.

I was very inspired by the concept of Bitcoin and the vision and mission of the people working on cryptocurrencies. After that event, I started researching blockchain technology more deeply, looking at the infrastructure layer, Ethereum, and other protocols. I quickly decided that I wanted to join the cryptocurrency and blockchain industry.

I joined one of the leading Layer 1 protocols at the time in 2018 because I had no previous experience. I worked in an ecosystem and ecosystem fund role, talking to developers, supporting projects, and investing in some.

My goal from the beginning has been to help builders and developers create something usable and valuable on the blockchain, something decentralized and more efficient, and something that benefits investors, retail users, and even Web2 users.

When it comes to BNB chains, it is one of the most active and widely used layer 1 ecosystems in the industry. We felt that joining a bigger platform would allow us to work with more real builders and developers. That’s why I joined BNB Chain in 2023.

For the past three years, I have led the BD team. We are a team of 10 people and our role is exactly what I wanted to do from the beginning. We build relationships with developers, infrastructure providers, and key partners to help build DeFi, GameFi, RWA, and other solutions on the BNB chain.

question: Given BNB Chain’s focus on DeFi, gaming, and other areas, what areas are you most excited about right now?

Sarah: Late last year and early this year, we identified three key areas of focus. These are AI, stablecoin payments, and RWA.

RWA in particular is growing very quickly on the BNB chain. At the beginning of this year, RWA-related TVL was only about $4 million. As of early December, that amount had grown to about $1.6 billion.

We have onboarded many leading companies in the RWA space, including BlackRock’s BUIDL, Franklin Templeton’s BENJI, and USYC. In addition to Securitize, we also collaborate with several institutions in Asia such as China Merchants Bank and China Merchants Securities.

We have also diversified the types of RWA assets on the BNB chain. It’s not just money market funds. There are currently tokenized stocks, pre-IPO assets, digital gold, tokenized art collectibles, and other assets on the mainnet. We are also considering tokenizing items such as wine and Pokemon cards.

Stablecoin payments are another major area. This year, the circulating value of stablecoins on the BNB chain increased from approximately $7 billion to $40 billion. We launched our native stablecoin and onboarded several regional and European stablecoins.

We have also launched a stablecoin remittance campaign that does not require BNB as a gas fee when users remit stablecoins. This has led to a significant increase in stablecoin usage, and the BNB chain is now one of the top chains for stablecoin activity.

Although AI is still in its infancy, I am very bullish on areas such as AI agents, AI payments, and AI tools that can assist traders with research and decision-making. We are actively working with AI protocols and onboarding them to the BNB chain.

These three areas, RWA, stablecoin payments, and AI, will continue to be our main focus over the next few years.

question: What makes a project high quality in today’s crypto environment?

Sarah: First, the team must have a clear understanding of product-market fit. You should not get into cryptocurrencies simply to issue tokens. You need to understand how your product creates value and how it can be sustained.

Secondly, the team itself is very important. We always look at the background of the founders, how they know each other and whether we can work together in the long term. Strong relationships and a shared vision are very important.

We also consider what the project is building and whether it aligns with directions we see as having strong potential, such as AI, RWA, and payments.

question: What challenges and opportunities do you see as BNB Chain expands into emerging markets such as Asia and Africa?

Sarah: In many emerging markets, traditional financial systems are difficult to access and easy to use. This creates powerful opportunities for stablecoins, payments, DeFi, lending, and even simple asset ownership.

The main challenge is understanding local users. We need people on the ground who understand local needs and issues. Our team is relatively small, so we can’t be everywhere at once.

To address this, we host events, travel to different regions and collaborate with strong local partners and institutions. This helps educate developers, support local builders, and grow together in those markets.

question: What was the most surprising or most challenging aspect of your role at BNB Chain?

Sarah: One of the big challenges is that not all projects can be supported in the same way. Some projects are nurtured by us, others receive investment support and others are supported through partnerships and exchange relationships. You can’t make everyone happy.

Clear communication is very important. We need to explain our standards, expectations, and support mechanisms. Market trends change rapidly, so you also need to keep developers updated to stay on track.

Another challenge is that the industry has yet to figure out what actually works when blockchain is combined with areas like AI and real-world implementation. We experiment a lot, brainstorm internally, and test ideas. It’s uncertain, but it’s also exciting.

question: Web3 remains a male-dominated field. What has your experience been like as a woman in a leadership role?

Sarah: It was difficult at first. People often wondered about my age, my appearance, and whether I really understood blockchain technology.

But after having many conversations and working closely with builders and teams, people started to see the value I brought. Respect comes from demonstrating your abilities and delivering results.

The situation for women in the crypto industry is improving. It’s encouraging to see more women in key roles. In my own team, I work with many talented women who are passionate and capable.

I am committed to supporting young women looking to break into this industry, and I look forward to continuing to build a better, more inclusive space together.

read more: BNB Chain’s Nina Rong talks building for developers and growing globally