Binance and BBVA Don Launch US Treasury-Backed Crypto Custody
Binance don strengthen dia crypto custody business by join hand with Spain own BBVA to hold customer assets as US Treasuries for one off-exchange custody service wey dey separate from their trading work and fit use as margin. Dis kain crypto custody arrangement na follow their third-party deals with Sygnum and FlowBank before and e come because regulator pressure don dey increase after FTX collapse and the $4.3 billion AML penalty wey Binance suffer. Binance also just start near-real-time crypto-to-fiat withdrawals go Mastercard for European users. By involving one correct bank, Binance wan make asset protection, regulatory compliance and institutional confidence for crypto market strong.
Bullish
Partnering wit BBVA and backing custody wit US Treasuries dey reduce counterparty risk well-well and e show say dem dey comply wit regulation strong. For short term, dis increase for trust fit make trade volume for Binance high and demand for main cryptocurrencies rise. For long term, bank-grade custody solution fit open door for more institutional adoption and steady capital inflow wey go support strong market momentum wey dey last long.