Binance partners with BBVA, Spain’s largest bank, for custodian services, offering enhanced security for user funds and reducing counterparty risk. Traditional finance stepping in to bridge gap between institutional investors and the crypto ecosystem. Binance also partners with Switzerland’s Sygnum and FlowBank for custody solutions.

Binance launches service to convert crypto to fiat and withdraw directly to Mastercard for European users, aiming to streamline off-ramping of funds. Prior to banking custodians, Binance users solely relied on the exchange for asset storage. Custody by credible banks adds a layer of protection to user funds, enhancing security.

Indian crypto exchange WazirX freezes withdrawals for 16 million users after security breach, renewing investor fears. Binance, previously linked to WazirX, distances itself from the exchange and denies responsibility for losses. Calls for WazirX team to be held accountable for user funds lost under their management.

Read more at cointelegraph.com

Bitcoin reaches new all-time high of $60,000, driven by increased institutional interest and adoption. The cryptocurrency’s market cap surpasses $1 trillion for the first time, solidifying its position as a mainstream asset. Analysts predict further growth as more companies and investors embrace digital currencies.: Binance Partners With BBVA to Secure Customer Funds Off-Exchange