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The new partnership will give European users more access to cryptocurrencies on Binance—ahead of its upcoming crypto debit card.
In brief
Binance has formed a partnership with German investment firm CM-Equity.
The new arrangement aims to expand Binance's services in Europe.
This is the latest in a series of acquisitions and partnerships in the last month for the exchange.
Binance, the world's largest cryptocurrency trading platform, has just joined forces with German investment firm CM-Equity to expand the range of services available to its users in Europe.
According to the announcement, the new arrangement will allow Binance users in Europe to use CM-Equities' services to trade "further crypto assets and other financial products." Exact details on the new assets and financial products that will now be available to European users have not yet been provided.
By joining forces with CM-Equity, Binance will be able to broaden our services in Europe while ensuring compliance with local regulations,” said Binance CEO Changpeng Zhao.
As a German asset management and brokerage firm licensed by the German Financial Supervisory Authority (BaFin), CM Equity AG offers a crypto-asset management service for its clients. Through its partnership with Binance, the firm will be able to manage accounts registered on Binance using its trading strategies.
This setup is aimed at making cryptocurrency investments more accessible to Europeans, with a particular focus on German clientele. Since the majority of retail traders lose money, the new partnership will allow European investors to put their crypto portfolio in the hands of experienced traders—similar to how hedge funds manage money for traditional investors.
“Binance offers the best trading experience in the market and we are thrilled to collaborate with the world’s number one,” said Michael Kott, CEO of CM-Equity, adding, “Our fully licensed digital assets platform will benefit from the best liquidity and frictionless service offered by Binance.”
Earlier this month, Binance partnered with digital asset custodian platform Etana to add 15 new fiat on-ramps to the site. It also acquired crypto debit card provider Swipe in a deal that will see it launch its own crypto card in the European Economic Area (EEA) next month. It's not waiting around.
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