Binance Partners With CM-Equity To Expand Its Market Reach In Germany And Europe
- Binance’s latest partnership set to introduce its trading services and crypto asset management to clients in Germany and Europe.
In an announcement on Friday, Binance, the largest crypto exchange in daily volumes traded, announced its partnership to a German investment firm, CM-Equity, to provide crypto brokerage and asset management services in Europe.
Cryptocurrency investors and traders within Europe and Germany will now be able to operate proprietary trading and brokerage services ON Binance. CM-Equity is a BaFin regulated investment firm that opens up a regulation-compliant gateway for Europeans to trade crypto assets and associated derivatives on a highly secure and liquid platform.
Binance aims to penetrate the European market in the preparedness of their upcoming VISA enabled debit cards set to be launched later this year. On the partnership, Changpeng Zhao ‘CZ’ said the two firms aim to “grow the digital assets industry in a sustainable way” as they expand their crypto services to global clients.
He further said,
“By joining forces with CM-Equity, Binance will be able to broaden our services in Europe while ensuring compliance with local regulations.”
CM-Equity was launched in 2020, growing into a fully compliant investment bank and has gained its license from the German Financial Markets Authority, BaFin. The German financial regulator launched its guidelines on foreign crypto custodians and crypto firms offering services in the country earlier in the year.
The partnership with one of the biggest crypto exchanges opens a new world of possibilities, Michael Kott, CEO of CM-Equity, He concluded,
“Our fully licensed digital assets platform will benefit from the best liquidity and frictionless service offered by Binance.”