Binance partners with Spain’s BBVA to offer secure off-exchange custody for crypto assets, addressing post-FTX safety concerns.
This alliance supports Binance’s custody strategy, boosting institutional client trust and marking a shift towards regulated trade frameworks in the crypto industry.
Binance has formed a collaboration with Spain’s BBVA to enhance crypto custody solutions. This includes off-exchange custody where client assets are stored in U.S. Treasury securities.
The initiative directly addresses post-FTX concerns. Neither Binance nor BBVA has issued formal statements so far, aligning with Binance’s recent expansions in custody services.
Binance Secures Crypto with BBVA’s U.S. Treasury Hold
BBVA’s role as a regulated custodian could enhance trust among institutional clients. This setup is expected to bolster Binance’s customer base and improve access to capital-efficient trading.
The partnership’s financial and regulatory outcomes show potential for streamlined trading using secure collateral systems. Historical patterns indicate improved liquidity flow and minimized risks post-FTX crisis.
BBVA Boosts Institutional Trust for Binance
Following the FTX collapse in 2022, demand for third-party custodianship surged. Binance’s move towards regulated TradFi collaboration mirrors its partnerships with FlowBank and Sygnum.
Kanalcoin analysts highlight the importance of aligning crypto custody with regulatory guidelines. This partnership is seen as a crucial step towards more secure digital asset management.
Vitalik Buterin, Co-founder, Ethereum – “As custodianship models evolve, it’s crucial for traditional finance to integrate with the crypto ecosystem safely.”
Post-FTX: Binance-FlowBank TradFi Strategy
Following the FTX collapse in 2022, demand for third-party custodianship surged. Binance’s move towards regulated TradFi collaboration mirrors its partnerships with FlowBank and Sygnum.
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