Beyond the Noise

Gate founder Dr. Han on building a global crypto exchange.

It was at the Entrepreneur Leadership Awards 2025 by Entrepreneur Middle East gala dinner last December that I was looking for the winner of the Best Crypto Exchange award — pushing through a noisy crowd of people taking selfies, shaking hands, laughing loudly, interrupting each other. 

I was expecting Dr. Han, Ph.D., founder and CEO of the global cryptocurrency exchange Gate, to fit into that picture. But no—he met me slightly aside from the flow of people, remaining polite, disciplined, and focused on our conversation as if no distraction or interruptions were competing for our attention.

I realize that is also how he built the crypto exchange Gate over the past 15 years: patiently, methodically, and largely indifferent to the fluctuating yet constant noise around and within the crypto sector.

Gate is currently listed as one of the top global cryptocurrency exchanges by most widely tracked industry aggregators, based on trading volume and related metrics. It was the first mainstream cryptocurrency exchange to commit to 100% reserves, which in 2020 was ahead of the industry standard. Then, in October 2025, Gate took it a step further by committing to a 124% reserve ratio.

As Gate surpasses 49 million active users, Dr. Han points to security as the single most important factor in how those users choose a crypto exchange. “We have extensive experience and provide strong custody and security measures to protect user assets,” he says.

“Transparency is also critical. We were the first to provide proof of reserves, showing that user assets are fully backed. We also open-sourced our auditing system so users can verify it themselves.”

As part of its strategy to become a fully regulated global crypto exchange, Gate has obtained regulatory registrations, licenses, or approvals across jurisdictions including Lithuania, Argentina, Malta, Italy, Gibraltar, the Bahamas, Hong Kong, and Japan, following the 2024 acquisition of Japan-licensed exchange Coin Master. In 2025, Gate obtained licenses in multiple U.S. states and launched Gate US; plus, its 

subsidiary Gate Technology FZE secured a VASP license from Dubai’s Virtual Assets Regulatory Authority (VARA). “We started as a one-person operation,” Dr. Han says. “Today, we have more than 2,000 employees, including over 1,000 developers. We have offices in Japan, Malta, the United States, and UAE (Dubai), but many team members work remotely.”

Going back to the period when Gate was still a one-person operation reveals that Dr. Han was among the earliest builders in the global cryptocurrency industry. With degrees in computer software engineering and advanced degrees in mathematics and computer science (Peking University), Dr. Han pursued a PhD in optics from Canada. After completing one year of postdoctoral work in Canada in optoelectronics, he returned to China to start a business in high-performance computing and optoelectronic software development. Then, in 2012, while conducting high-performance computing research, he noticed graphics cards being widely used for Bitcoin mining. “About 12 years ago, I was trying to find the best hardware to run software simulations. I then discovered that people were using the same kind of hardware for Bitcoin mining. That was the first time I heard about Bitcoin,” he says. 

“I started studying what Bitcoin was. It was easy for me to understand because I have a technology background. There was a white paper, very well written, and the code was open source, so you could easily check the details. That was my first encounter with Bitcoin.”

However, intellectual curiosity alone was not what led Dr. Han to start Gate. In 2013, he attempted to purchase 100 Bitcoin on an online forum but was scammed, losing approximately CAD 2,000–3,000 (US$1,500–2,300). The experience prompted him to build a secure trading platform.

Gate was founded in April 2013, originally under the name bter.com, during a period when the crypto industry operated largely without regulatory frameworks. In its first two years, Dr. Han personally wrote much of the platform’s core code, handling everything from infrastructure and application programming interfaces (APIs) to website development. 

In 2017, when China carried out a sweeping crackdown on cryptocurrency activity -from declaring Initial Coin Offerings (ICOs) illegal to instructing major domestic exchanges to cease operations or relocate overseas- Dr. Han’s platform relocated to the Cayman Islands and rebranded as Gate.

Today, his stance on regulation is pragmatic. “Early on, the lack of regulation helped the industry grow. Today, regulation is necessary to protect users from risks like hacking and illegal activity,” Dr. Han says. 

“Regulators should provide clear guidelines and objectives but avoid micromanagement. Exchanges have the expertise and technology to meet compliance requirements. Excessive micromanagement wastes time and resources, especially for smaller companies. Overall, regulators are improving as they gain more understanding of the industry.”

Alongside the broader expansion of the crypto industry, Gate has undergone its own internal acceleration, with its product strategy moving well beyond only centralized trading. As Dr. Han explains, “On the product side, we evolved from a centralized exchange to also offering DeFi products. Users want more control over their assets, so we built decentralized solutions as well.” 

That shift has recently taken shape in Gate’s “All in Web3” strategy, a comprehensive on-chain ecosystem built around Gate Layer, its high-performance Layer 2 blockchain. Serving as the foundation, Gate Layer enables a new generation of decentralized applications, including Gate Perp DEX, a decentralized perpetuals exchange, and Gate Fun, a zero-code token launchpad.

“We continuously launch new products because crypto evolves very quickly. We are now fully focused on Web3, as we see strong demand for decentralized infrastructure and services.”

Brand visibility followed infrastructure. Starting from the 2024/25 season, Gate has become the Official Sleeve Partner of FC Internazionale Milano, which will see its logo featured on the sleeves of the playing kits for both the men’s and women’s teams, as well as the club’s U20 teams. Also in 2025, Gate signed a multi-year deal to become the exclusive crypto exchange partner of the eight-time World Drivers’ Championship–winning team, Oracle Red Bull Racing. Gate’s branding is featured on the RB21, team kit, driver and crew suits, and Max Verstappen’s helmet. “It significantly increased global awareness. These were major milestones for us,” Dr. Han says. 

Stepping back from Gate to the crypto industry as a whole, Dr. Han draws on years of navigating multiple market cycles, treating both bull and bear phases as exercises in discipline.“Crypto used to follow a four-year cycle based on Bitcoin supply, but today it is influenced by the global economy. Bull and bear markets still exist, but the dynamics have changed,” he explains. “In bull markets, hype can lead to mistakes and bubbles. You need to be careful not to overextend or launch too many products without discipline.

“In bear markets, revenue is lower and morale can drop. That is the time to reduce unnecessary spending and focus on product development and long-term improvements. Finding the balance is a key lesson we learned.”

When it comes to the industry’s next chapter, Dr. Han sees stablecoins and real-world asset tokenization as foundational. “Stablecoins are a form of real-world assets because they are backed by fiat currency. Initially, they were mainly used for trading, but today they are widely used for payments,” he says. “Real-world asset tokenization is growing quickly. Assets like gold and stocks can now be traded on-chain, globally and 24/7. This increases accessibility, efficiency, and liquidity. We will see more traditional assets move onto blockchain.”

By contrast, Dr. Han remains cautious about central bank digital currencies.“CBDCs have been discussed for years, but I have not seen real success yet,” he says. “Blockchain already provides trust through technology and consensus, so users do not necessarily want centralized control. CBDCs must compete on experience, cost, and efficiency like any other project. Without clear advantages, adoption will remain limited.”

Looking ahead, Dr. Han believes artificial intelligence will play a decisive role in crypto adoption. “AI will significantly improve user experience. Crypto platforms are still too complex for normal users,” he explains. “With AI, users won’t need to learn complicated interfaces. They will simply express their intent, and the system will execute it for them.

“By 2026, I expect AI-driven interfaces that make crypto much more accessible.”

After more than a decade building through volatility, regulation, and reinvention, Dr. Han’s advice to founders—particularly those in the UAE—is grounded in experience. “I encourage founders to enter crypto early. Crypto will change the world, and most assets will eventually be tokenized and moved on-chain,” he says. 

“Founders should build in major crypto hubs like Dubai, Abu Dhabi, Hong Kong, or Singapore. These ecosystems make it easier to find capital, partners, and talent. Starting in a small city without an ecosystem makes growth much harder.”

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