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Binance Partners with German Equity Firm to Extend Trading Services in Europe


newslogical.com 24 July 2020 14:20, UTC
Reading time: ~2 m

Leading blockchain platform Binance has entered a strategic partnership with German equity firm CM-Equity AG, a release has said.

Binance revealed the partnership today July 23, on its Twitter page with further details on its blog. According to the terms agreed, traders and investors in Germany and Europe would be exposed to a wide range of services within a shared ecosystem. 

This includes access to use CM-Equity services to trade crypto assets and other financial assets in a standardized ecosystem. 

Binance users in Europe will also benefit from the synergy between both platforms as the crypto exchange seeks to expand while ensuring compliance with EU laws. 

CM-Equity would also benefit from the increased number of users that it would onboard on its brokerage platform. In addition, the financial firm would also benefit from Binance’s frictionless and liquid services. 

CM-Equity is a German financial firm that is licensed to operate brokerage and trading services in Europe. 

Binance Partnership with CM-Equity Continues Expansion Process

Binance has in recent months continued to increase its market dominance with more partnerships across the world. 

Binance chief Changpeng Zhao has been astute about his intentions of increasing the exchange reach within the crypto and mainstream markets.  

The blockchain firm recently agreed a partnership with custody platform Etana to provide deposit services with up to 15 fiat currencies. This agreement would see the exchange extend its services to traders in America and Asia. 

Earlier, Binance announced support for the Nigerian Naira on its P2P platform which enabled users from the Africa’s most populous nation to transact with digital currencies at zero transaction fees. 

Binance currently supports transactions in over 160 currencies via different fiat gateways and has over 100 cryptocurrencies on its platform. 

The partnership with CM-Equity is a good one for the exchange as the brokerage firm has a good number of userbase in Europe. 

Binance Coin Price (BNB) 

Binance native token BNB enjoyed a gain of 3.35% in the last 24 hours. BNB is currently trading hands for $18.22 and appears to be on a bullish trend. 

The coin is ranked 11th on the coin rankings with a marketcap of $2.6 billion. 

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