In a bold step toward restoring trust in centralized exchanges, Binance has partnered with Spainās BBVA to offer independent custody of user funds. This move comes in response to growing concerns over asset security following the FTX collapse and other industry shakeups.
š **Why It Matters:**
- BBVA will hold customer assets in U.S. Treasurys, accepted by Binance as margin for trading.
- Reduces counterparty risk and adds bank-backed collateral protection.
- Bridges the gap between traditional finance and crypto investing.
š³ Binance also launched near-instant crypto-to-fiat conversion via Mastercard for European usersāstreamlining off-ramping across the EEA and UK.
As the crypto landscape evolves, Binanceās push for transparency and institutional-grade safeguards could redefine how users interact with exchanges.
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