Bitcoin Price has maintained its position greater than $ 115,000 on Friday as Binance, the largest exchange of bitcoin and cryptocurrencies in the world, collaborates with BBVA Bank of Spain to provide third -party custody services, marking a significant step towards institutional level safety.
The partnership allows Binance customers to store their activities in the US Treasury securities held by BBVA, the third Bank of Spain, which the exchange will accept as a margin for trading. This agreement effectively separates trading activities from the custody of activities, providing a further level of safety for investors concerned for the risk of exchange.
The move arrives while Binance continues to reconstruct trust following his $ 4.3 billion agreement with US regulators in 2023 for anti -money laundering violations. The exchange has implemented more severe checks and clearer dissemination on the management of funds, including customers to use third -party custodians such as Sygnum and Flowbank.
BBVA was increasingly active in the Bitcoin and Crypto sector, after launching cryptocurrency services and custody services through its mobile app this year. The bank also took a bold position by recommending private customers to allocate up to 7% of their Bitcoin and Crypto wallets, reflecting the growing institutional trust in the cryptocurrency.
The custody agreement faces one of the main concerns that emerged following the collapse of FTX in 2022, in which customer funds were raised with exchange operations. Under the new structure, if Binance had to face operational problems or regulatory challenges, customer funds would remain safe in the Treasury securities under BBVA control.
This partnership represents a new standard for Bitcoin and Crypto Exchange Security. The integration of traditional banking infrastructures with Bitcoin and cryptocurrency trading platforms could accelerate institutional adoption by providing a family and regulated framework.
The development comes in the middle of the acceleration of the adoption of corporate bitcoin, with the number of public companies that hold Bitcoin on their budgets that went up to over 200. Recent notable additions include the purchase by Metaplanet of 463 BTC for a value of $ 53.7 million and innovative $ 21 million Bitcoin.
Market analysts suggest that the partnership between Binance and BBVA could establish a precedent for similar agreements between Bitcoin and Crypro Exchange and traditional banks. The move effectively fills the gap between conventional finance and Bitcoin, potentially attracting more institutional investors who have been hesitant to enter the Bitcoin market due to custody concerns.
The volumes of negotiation through the main exchanges of Bitcoin and cryptocurrencies remained stable following the news, with the price of Bitcoin which continues to exchange a range of $ 115.000- $ 116,000. The change of the market suggests that institutional developments are becoming increasingly normalized as the Bitcoin sector and mature cryptocurrencies.