The head of Binance allowed the purchase of crypto -tanks of traditional banks

BINANCE is considering buying banks to overcome the gap between traditional finances and crypto industry. The head of Chanpen Zhao said this in an interview with Bloomberg.

In October, Zhao spoke about the plans of the cryptocurrencies to allocate more than $ 1 billion for the purchase of cryptocurrency companies. According to him, Binance also draws attention to the owners of various local licenses, for example, banking or payment.

“We want to be a bridge between cryptocurrencies and the traditional financial world,” he said.

According to ZHAO, digital assets and Tradfi are becoming increasingly interconnected. Despite the fall of the market, large institutions like Goldman Sachs Group or BlackRock continue to delve into the crypto industry.

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The head of Binance said that the exchange is ready both for the purchase of minority shares in banks, and for full purchase.

The company also admit the possibility of profit from the potential growth of shares of financial institutions as a result of a transaction with the largest global crypto -rope.

“We found that when banks work with us, we give so many users that their assessment is growing exponentially. Why don’t we just invest in them in order to earn on an increase in capital?”, – asked Zhao.

Recall that during 2020, Binance allocated strategic investments in the amount of $ 200 million Forbes media holding and $ 500 million to finance the Twitter absorption transaction initiated by Ilon.

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