Binance Partners with BBVA for Asset Custody Amid Security and Fine Concerns

BBVA leverages traditional banking infrastructure to secure Binance customer assets in U.S. Treasuries, reinforcing institutional trust and addressing custody concerns.

BTC

123d ago

Summary

Binance has partnered with Spain’s BBVA to offer third-party custody services by holding customer assets in U.S. Treasuries, ensuring a separation of trading and custody functions. Bitcoin prices remained stable above $115,000 amid this development, highlighting growing institutional confidence.

Terms & Concepts

Asset Custody: A service where a third party securely holds and manages digital assets separately from trading activities.
U.S. Treasuries: Government debt securities used here as a secure collateral for trading margins in custody arrangements.