Binance Partners with BBVA to Boost Bitcoin, Ethereum, and MAGACOIN Growth

Binance has partnered with BBVA to enhance user fund safety. The international platform now enables certain clients to hold assets off-platform through the Spanish bank. This new mechanism divides the activity into trading and custody, a solution typical of traditional finance in crypto. It will assist in mitigating risks to users, following recent high-profile failures of exchanges.

BBVA will custody such assets as the U.S. Treasuries on behalf of Binance clients. Binance will then acknowledge such assets as trading margin. This arrangement allows traders to be more in control of their money and minimize counterparty risk. The alliance comes after Binance was fined $4 billion in 2023. The company was fined by U.S. regulators on claims that it did not prevent criminal operations like fraud and money laundering.#Binance