PANews, August 8 - According to a report by the Financial Times in the UK, Binance is collaborating with Banco Bilbao Vizcaya Argentaria (BBVA) to allow customers to hold their assets with the bank rather than in the exchange. This is a new initiative by Binance to reassure investors following the record $4.3 billion fine imposed by US authorities in 2023. BBVA, Spain's third-largest bank, has recently begun providing services to Binance as one of the few independent custodians. This move aims to alleviate investor concerns about the security of exchanges, especially after the FTX bankruptcy incident in 2022. BBVA's brand recognition is higher than that of Binance's existing partners, which may enhance user trust. Under the cooperation arrangement, traders' funds will be held in the form of US Treasury securities at BBVA, while Binance will accept these assets as trading collateral.