On July 23, 2020, Binance exchange revealed a partnership with CM-Equity, a leading German investment firm providing asset management and brokerage services for digital assets.
As per today’s announcement on the Binance official website, Germany and Europe will now be able to use Binance and CM-Equity to operate proprietary trading and brokerage services.
Changpeng (CZ) Zhao noted that his exchange is looking forward to a long-term collaboration with CM-Equity to expand the digital assets sector in a viable manner and increase crypto offerings for their European customers.
Michael Kott, CEO of CM-Equity, was equally excited about the partnership, hailing Binance as a top exchange that offers the best trading experience in the market.
Kott also noted that CM-Equity’s fully licensed virtual assets platform would profit greatly from the massive liquidity and efficient service offered by Binance exchange.
Binance to Comply More with Global Regulators
The latest collaboration with CM-Equity comes just hours after the Binance CEO explained that having their own bank would unlock one more channel for interacting with global regulators.
During yesterday’s AMA session held by Binance-owned data aggregator CoinMarketCap, CZ highlighted that the notion of acquiring or building their own bank has been circulating in the company for a while as a means to seek deeper integration with banking services.
CZ said that the association between traditional financial institutions and the crypto sphere had seen a key shift in recent years, adding that there are now numerous payment providers and major global banks looking to delve into the crypto sphere.
Binance is currently facing problems with financial regulators worldwide, with officials in Malaysia and Malta publicly indicating that the exchange isn’t authorized to offer services in these nations.
The Exchange Expands into Europe
Today’s partnership with German investment firm CM-Equity highlights the exchange’s desire to expand crypto services in Europe.
Just a few weeks ago, Binance announced that it had joined forces with settlement provider Etana Custody to increase the options for users buying digital assets with fiat currencies.
As per the July 7 announcement, Binance users will now have the opportunity to easily fund their accounts with about 15 national currencies via the fiat gateway that serves the European, Asian, and North American markets.
By using a funded Etana account, crypto users won’t have to leave Binance’s platform to fund purchases of top digital assets such as Bitcoin.