In the crypto world, there is no company with a better record than Binance. The exchange that in just three years, has managed to conquer the market with a huge number of products and services, positioning itself as the world’s leading cryptocurrency company. Therefore, it is not uncommon for ideas that seemed impossible just a few years ago to start circulating. Which is why we wonder if Binance will buy its own bank.
Binance’s development has reached a point where analysts of the crypto world, we should ask ourselves if it is logical to continue referring to the company as a cryptocurrency exchange. Well, over the years the Changpeng Zhao company has grown so much that it has stopped being a simple exchange, to become a true business holding company.
Wallets, future contracts, exchanges, fiat transactions, debit cards, stablecoins, incubators, live events, or data companies, there is no sector in which Binance has not dabbled or intends to dabble. Creating the largest ecosystem of cryptocurrency related products today.
However, this is not enough for the company run by Zhao. Well, Binance spokesmen have already spoken on several occasions about the company’s plans for the future. Among which, entry to the decentralized finance sector, and integration with traditional institutions such as banks, have the highest priority.
Well, despite being a multi-million dollar business, with a presence on all continents, cryptocurrencies have not achieved the level of recognition by governments and banks, which it should have due to its size. Something Binance tries to change with his latest moves.
Therefore, it is not a surprise to anyone that, as recognized by Changpeng Zhao himself in a conversation with CoinMarketCap, the idea of buying a bank is gaining strength within Binance. After he has been going around in the company for several years.
And, the acquisition of a bank would allow Binance to integrate into the traditional financial world, in a way that has been impossible until now. Having a different type of relationship with regulatory agencies, and also counting on the financial muscle of Binance to internationalize the bank’s business.
Thus, although he clarified that at the moment there are no specific plans to buy a bank by Binance. Changpeng Zhao also said that: “At the same time, buying a bank does not solve all problems. Probably gives us an easier channel to talk to a regulator“
If such a move were finally to be carried out by Binance, the cryptocurrency firm would once again demonstrate its leadership in the sector. With an unprecedented step for integration between traditional and decentralized finance. What makes this possible purchase of a bank our Today’s Data here at CryptoTrend.