In a press release shared with NewsFirstLine, Binance announced that it has entered a partnership with German investment firm CM-Equity, bringing more robust and dynamic crypto asset trading services to the German and European markets. One of the first investment firms to pioneer digital assets investment in Germany, CM-Equity is fully licensed by Germany’s financial watchdog, BaFin.
“Binance offers the best trading experience in the market and we are thrilled to collaborate with the world’s number one. Our fully licensed digital assets platform will benefit from the best liquidity and frictionless service offered by Binance,” said Michael Kott, CEO of CM-Equity.
Further details on this partnership and what it exactly entails – any new products or services Binance will be offering users in Europe in conjunction with CM-Equity – will be released soon. However, Binance will certainly be able to provide more of its services to the market now that it will be working with a fully regulated local firm.
This is especially the case as BaFin recently rolled out new amendments to laws overseeing crypto-related activities in the country, which makes it compulsory for crypto businesses to apply for an operating license with BaFin before November this year. Crypto companies have also faced challenges with uncooperative German banks, unwilling to open checking accounts for these firms as the banks are wholly unfamiliar with the crypto industry.
“By joining forces with CM-Equity, Binance will be able to broaden our services in Europe while ensuring compliance with local regulations. We are looking forward to a long-term partnership with CM-Equity to grow the digital assets industry in a sustainable way and expand our offerings for European clients,” said Changpeng Zhao (CZ), CEO of Binance.
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