Binance successfully piloted the world's first cryptocurrency tri-party agreemet

Chane999

Binance has announced the successful execution of the world's first cryptocurrency tri-party agreement in collaboration with a third-party banking partner. This solution enables institutional investors to custody assets with the third-party banking partner in the form of legal equivalents such as treasury bills, while also earning additional returns on the assets. This project is the first among a series of pilot initiatives initiated by Binance. The platform claims to be the only cryptocurrency exchange currently offering such a solution in the industry. The solution bridges the traditional and cryptocurrency markets, directly addressing the counterparty risk concerns of institutional investors. It replicates the common framework seen in traditional financial markets, allowing investors to proportionally allocate cryptocurrency assets based on their risk tolerance. Catherine Chen, Binance VIP and Head of Institutions, stated, "Our professional team has been continuously exploring tri-party agreements with banks, drawing inspiration from the trading practices in traditional markets. We have developed a solution to ensure our institutional clients can efficiently optimize their collateral and cryptocurrency investments."

Kahn332

This agreement is worth looking into to understand.

Isha000

How is the trial considered successful? Is it really that challenging to implement an agreement like this?

Janak9955

It's essential to thoroughly understand tri-party agreements.

Sona59

Tri-party agreements are still the largest globally, aren't they?