Binance has made a significant amount of investments in the crypto industry’s growth but its integration into the banking system is on another level. It is considering buying its own bank, Bloomberg reported eariler this week.
Speaking during the Web Summit conference in Lisbon, Portugal, Binance CEO Changpeng Zhao said that the exchange is pursuing the goal of bridging the gap between the crypto world and traditional finance.
Binance Goes After Traditional Finance
CZ did not specify which would be the company’s next steps, but he mentioned that Binance is working on bringing support for those who are more accustomed to traditional finance.
To wit,
“There are people who hold certain types of local licenses, traditional banking, payment-service providers, even banks. We’re looking at those things.”
There has been a movement, in fact, transition towards crypto within financial institutions, in which big banks seek either to…
