📌 What is Off-Exchange Custody with BBVA?

Binance collaborates with BBVA to hold users' assets outside of the Binance system.

Assets (e.g., USDT, BTC) will be held at BBVA, not in Binance's hot/cold wallets.

BBVA keeps them in a custody account or safe investments such as U.S. Treasury bonds.

Users will still see their balances on Binance, but the physical custody rights belong to BBVA.

🎯 Benefits:

1. Reduces the risk of exchange bankruptcy or hacking (like the FTX incident in 2022).

2. Increases transparency – there is an independent third party overseeing.

3. Aligns with legal trends in many countries requiring separate custody.