BlockBeats news, on August 8, according to the Financial Times, Binance is collaborating with Spain's third-largest bank BBVA to provide users with offline custody services, with client assets stored in BBVA in the form of U.S. Treasury bonds, and Binance accepting these assets as collateral.
Insiders say that this structure is intended to 'prevent another FTX-like incident.' Neither party has commented on the cooperation.