Binance is working with Banco Bilbao Vizcaya Argentaria to allow traders to keep collateral such as U.S. Treasuries with the Spanish lender rather than on the crypto exchange, the Financial Times reported on 8 Aug. The deal would place BBVA among a small group of independent custodians servicing the world’s largest digital-asset venue, giving clients the option to segregate funds away from Binance’s own wallets. The move is aimed at reducing counterparty risk and restoring confidence among institutional customers after the 2022 collapse of rival exchange FTX prompted demands for third-party custody. Similar arrangements have become a priority for crypto platforms confronting tighter regulatory oversight and investor scrutiny. For BBVA, which manages roughly €772 billion (US$835 billion) in assets, the tie-up deepens its push into digital assets, following recent launches of Bitcoin and Ether trading for clients in selected markets. For Binance, the partnership comes months after U.S. authorities imposed a US$4.3 billion penalty for anti-money-laundering violations and a four-month prison sentence on founder Changpeng Zhao, underscoring the company’s effort to align operations with traditional finance safeguards.