Tag: Binance

Binance Introduces Off-Exchange Settlement to Institutional Investors

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Binance Custody, the institutional digital asset custody arm of leading cryptocurrency exchange, Binance, officially launched Binance Mirror, its off-exchange crypto settlement solution, on Monday. The new service provides Binance’s institutional investors with access to the crypto exchange’s trading and investment products while their collaterals are kept in the company’s cold storage. Binance Custody also noted that institutional investors can get access to the exchange’s VIP loans through the new service. “Through Binance Mirror, institutions lock a specified amount of their asset balance available in their Qualified Wallet, Binance Custody’s cold…

Binance to let institutions store crypto with cold custody

Amid the crisis of centralized cryptocurrency exchanges (CEX), crypto exchange Binance is moving to improve its institutional trading services with cold custody opportunities. Binance announced on Jan. 16 the official launch of Binance Mirror, an off-exchange settlement solution that enables institutional investors to invest and trade using cold custody. The newly launched Mirror service is based on Binance Custody, a regulated institutional digital asset custodian, by mirroring cold storage assets through a 1:1 collateral on Binance account. Binance emphasized that the new solution enables more security, allowing traders to access the exchange ecosystem…

Binance, Huobi team up to recover $2.5M from Harmony One hackers

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Security teams at crypto exchanges Binance and Huobi worked together to freeze and recover 121 Bitcoin (BTC) from hackers behind the Harmony bridge exploit.  In a tweet, Binance CEO Changpeng Zhao announced that the hackers have tried to launder their funds through the Huobi exchange. After Binance detected this, they contacted and assisted Huobi in freezing and recovering the digital assets deposited by the hackers. We detected Harmony One hacker fund movement. They previously tried to launder through Binance and we froze his accounts. This time he used Huobi. We…

Binance Now Authorized in 7 EU Countries — Sweden Becomes Latest Member State to Give Approval – Regulation Bitcoin News

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Crypto exchange Binance is now legal to operate in seven European countries following the latest approval by Sweden’s financial regulator. Overall, Binance has been approved to operate in 15 jurisdictions, including seven EU countries. Binance Approved to Operate in 7 EU Countries Cryptocurrency exchange Binance announced Thursday that its Swedish entity, Binance Nordics AB, “has been granted registration as a financial institution for management and trading in virtual currency by the Swedish Financial Supervisory Authority (Swedish FSA).” Binance explained: Sweden becomes the seventh EU Member State in which Binance has…

Binance Secures Regulatory Approval from Sweden

Besides pursuing regulatory approval, Binance has also continued to expand its workforce. Cryptocurrency exchange Binance has secured regulatory approval from the Swedish Financial Supervisory Authority (Swedish FSA), allowing it to offer its services to the Swedish community. Binance Nordics, Binance’s local arm, obtained regulatory approval after months of deliberation with the authorities. Consequently, Swedish customers will be able to use Binance’s services, including trading assets, staking, and several Web3 services. Nordics and Benelux Lead, Roy van Krimpen, stated that Binance Nordics AB’s risk and AML policies measure up to the…

Despite SEC Objection, Court Greenlights Billion-Dollar Asset Purchase Deal Between Binance US and Voyager – Regulation Bitcoin News

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The asset purchase agreement between Binance US and bankrupt crypto lender Voyager Digital has reportedly received initial court approval despite objections from various regulators, including the U.S. Securities and Exchange Commission (SEC). Court Lets Binance US Buy Voyager’s Assets The proposed asset purchase deal between the U.S. arm of cryptocurrency exchange Binance (Binance US) and bankrupt crypto lender Voyager Digital reportedly received initial court approval Tuesday. The court greenlighted the deal despite objections by the U.S. Securities and Exchange Commission (SEC) and a number of state securities regulators. In addition,…

Binance approved to offer crypto services to Swedish customers

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The Swedish Financial Supervisory Authority, one of the country’s financial regulatory agencies, has granted the local arm of crypto exchange Binance approval to manage and trade digital currencies. According to a Jan. 11 announcement, Binance said that following “months of constructive engagement” with the financial regulator, the FSA granted Binance Nordics AB’s registration status on Jan. 10. This decision effectively allows Swedish residents to access Binance’s crypto services. “Sweden fully adopts EU laws and has further local requirements, so we have been careful to ensure that Binance Nordics AB has adopted…

90% of WazirX’s User Assets are in Binance Wallets, According to Proof Of Reserves Report

CoinGabbar, a third party platform that tracks crypto assets, released WazirX’s proof of reserves. At the time of writing, WazirX had $285 million of total user assets, displayed in the form of stablecoin USDT, which is pegged to the U.S. dollar. Of the total user assets, around 92% or $259.07 million was held in Binance wallets, with $26.45 million being held in other exchanges. Source