💼 Binance teams up with Spanish bank BBVA to let customers keep assets off-exchange, per FT.

BBVA is reportedly one of only a few independent custodians working with the world’s largest crypto exchange — a move aimed at boosting fund security amid global regulatory heat.

Context:

• Comes after FTX collapse shook trust in centralized exchanges

• Binance hit with $4.3B U.S. fine in Feb for AML & sanctions violations

• Founder CZ served 4 months in prison

The message?

Binance wants to show client funds are safe — even if they’re not on its own platform.