The CEO of the Binance exchange, Changpeng Zhao, said he is looking for an opportunity to buy one or more banks. This will reduce the gap between traditional finance and cryptocurrencies.
According to Changpeng Zhao, at the moment there is no specific bank for redemption. In addition, it is not yet clear whether the exchange will fully acquire the bank, or whether it will be a less significant investment.
Zhao noted that Binance’s investment in traditional banks could benefit both companies. When the largest cryptocurrency exchange in the world works with any bank, this attracts a significant number of new customers to it.
“There are people who own certain types of local licenses, traditional banking services, payment service providers and banks. We are looking for such people,” Zhao said at the Web Summit conference held in Lisbon.
Earlier, the CEO of Binance said that the site is going to spend more than $1 billion on buyouts and investments in various companies. At the same time, the focus is on DeFi and NFT projects. In addition, Zhao has invested $500 million in the Twitter social network to develop the monetization of the service and integrate cryptocurrency payments.
Source: Bits
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