Binance successfully pilots the world’s first three-party cryptocurrency agreement

Binance announced that it has successfully executed the world’s first three-party cryptocurrency agreement with a third-party banking partner. The solution enables institutional investors to escrow assets to third-party banking partners in the form of fiat equivalents such as Treasury bills, with the additional benefit of earning returns on the assets. This project is the first in a series of pilot projects launched by Binance. Binance said it is currently the only cryptocurrency exchange in the industry to offer such a solution. The solution connects traditional and cryptocurrency markets, directly addressing the counterparty risk issue that institutional investors are currently most concerned about. It replicates a framework commonly seen in traditional financial markets, allowing investors to allocate crypto assets proportionally based on their risk tolerance. Catherine Chen, Binance VIP and Institutional Director, said: “Our professional team continues to try to explore bank tripartite agreements and draw on the trading behavior of traditional markets to develop a set of solutions to ensure that our institutional customers can effectively optimize their mortgages. Commodity and Cryptocurrency Investments.”