- Binance has partnered with BBVA for off-exchange crypto custody services.
- This aims to enhance security amid increased regulatory scrutiny.
- Market response is stable, indicating confidence in the move.
Binance has partnered with Spain’s BBVA to offer off-exchange crypto custody services as of August 10, 2025, enhancing asset security amidst tightening regulatory demands.
The partnership reflects growing emphasis on institutional-grade security post-FTX collapse, without immediate price shocks but supporting incrementally higher trust and stability in crypto markets.
The recent collaboration between Binance and BBVA introduces off-exchange crypto custody services. This partnership addresses growing demands for institutional-grade security, especially after custodial failures like the FTX collapse. Binance, led by Richard Teng, partners with Spain’s BBVA to store assets securely outside the exchange, marking a strategic response to regulatory pressures.
Richard Teng, CEO, Binance, said, “Binance is joining forces with BBVA […] to deliver off-exchange asset custody services in an attempt to give customers a safer way to store and manage their crypto assets,” citing the Financial Times.
The collaboration does not involve direct public funding figures but represents a new structural shift in asset custody. The involvement of major crypto assets, like BTC and ETH, signals an adaptation to current market needs. Since the announcement, BTC’s market price held firm, reflecting minimal disruptions and preserving trust among investors.
Historically, Binance has engaged with Swiss custodians. The BBVA partnership extends beyond these niche solutions by integrating approved banking products within Spain’s regulated framework. Though the regulatory environment remains a focus, with approvals leveraged from March 2025’s permissions, community sentiments emphasize improved trust through secure custody options.
Looking ahead, this partnership could influence similar collaborations, enhancing security protocols within the crypto industry. The demand for transparency, compliance, and independent fund custody drives this strategic endeavor. Overall, Binance’s relationship with BBVA underscores a keen awareness and adaptation to industry and regulatory developments.
