#Binance

🚨 Binance partners with BBVA, Spain’s second-largest bank, to hold trader margin in U.S. Treasuries, per Financial Times.

This move allows Binance customers to store assets off-exchange with BBVA as an independent custodian, reducing counterparty risk. A response to the 2022 FTX collapse and Binance’s $4B fine in 2023, it mirrors traditional finance’s separation of trading and custody.

BBVA’s involvement signals growing trust in crypto from traditional banks, boosted by Trump’s pro-crypto stance and EU’s MiCA regulations. Binance joins Deribit, OKX, and Bitget in adopting off-exchange custody solutions.