Binance trials triparty agreement to reduce counterparty risk for investors
Binance, the worldwide blockchain ecosystem that is responsible for the biggest cryptocurrency exchange in terms of trading volume, successfully implemented the world’s first cryptocurrency triparty agreement with a third-party banking partner on November 30, 2023. The implementation of this solution makes it possible for institutional investors to store trade collateral in the custody of a third-party banking partner, away from the exchange, according to the latest information shared with Finbold. This is the first in a series of pilot projects initiated by Binance, which is currently the only cryptocurrency exchange offering such a solution. The company’s aim is to directly tackle the counterparty risk issue, alleviating one of the main concerns among many institutional investors . Cryptocurrency Binance court case update as of November 29 Cryptocurrency Cristiano Ronaldo faces lawsuit over promotion of Binance ...