🏦 Binance collaborates with BBVA bank to offer custody of assets outside the platform

Binance has announced a partnership with the Spanish bank BBVA that will allow users to hold their assets outside the exchange, using independent custody as an additional layer of security. This measure responds to a context of increased regulation and aims to restore trust after significant sanctions suffered by Binance in the U.S. in 2023.

Now, funds can be held in U.S. Treasury securities, custodied by BBVA and accepted by Binance as trading margin, which helps mitigate risks associated with internal custodians.

What does this mean for you?

Greater security: Independent custody adds an extra layer of protection.

Lower counterparty risk: More similar to traditional bank security.

Upward trend: Reflects how exchanges are adapting after events like the collapse of FTX.

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