Sources inside say that Benance
According to a recent Financial Times report, Major Crypto Exchange has exploited Spain’s third largest bank, Banko Bilbao Vijakaya Argentia or BBVA, which is one of a handful of reliable selected custodians for people familiar with the deal.
The arrangement means that the wealth of the traders will be stored in the Spanish bank in the American Treasury, which is between facts as margin for trades on the exchange.
Motors, as exchanges -donation attemps, have arranged custody for those who have lost their assets on exchanges to take precautions for those who take precautions for those. One of the internal sources stated that the decision was made to reduce “a fictional FTX 2.0”.
Another reason is that the exchange wants to partner with more traditional finance institutions such as banks to meet the needs of traders, given that some of them prefer to use erade party and have collateral beels at a kufa place. “
In the past, Binance (BNB) customers could only place their assets on the platform either directly on the platform, which was directly on the platform through it through it through it through a mentor called Ceffu. Ceffu is described by US authorities as a “mysterious bense-fixed unit”.
Over the last few months, the Crypto Exchange is expanding its network to include banks such as Switzerland’s signum and flobank, which is a way to present the protest risks.
Binance wants to stop a ‘ftx 2.0’
FTX collapse was largely due to the fact that it did not use thread, party custody, an important Saifgard, which separates the customer’s property as a separate, independently under regulatory inspection of audit and exchanges.
Intead, FTX (FTT) laid the customer funds on its books, mixed them into their corporate resources, and allowed their sister company, Almeeda Research to receive these assets. This deficiency of separation and oversight enables Massprop until the early days of the exchange
When the exchange collapsed at the end of 2022, investors were re -abandoned as their funds were located in the bankrical processes. Since the FTX incident, more traders have opted for independent custody so that the exchange does not even keep our funds.