Binance gets greenlight to invest customer assets in US Treasury Bills
Binance, the world's largest cryptocurrency exchange, has received permission to invest customer assets in US Treasury Bills. This move marks a significant milestone for the company, as it seeks to expand its offerings and provide more traditional investment opportunities to its users.
According to a recent court filing, Binance has been granted permission to invest customer funds custodied at BitGo in Treasury Bills maturing on a four-week basis. This means that Binance will be able to use customer assets to purchase US Treasury Bills, which are considered to be one of the safest investments in the world.
The move is seen as a positive development for Binance, as it seeks to build trust with regulators and expand its offerings to include more traditional investment products. The company has been working to improve its relationships with regulators in recent months, and this move is seen as a significant step forward.
It's worth noting that Binance will only be able to invest customer assets in Treasury Bills with the explicit consent of the customer. This means that customers will have the option to opt-out of the program if they do not want their assets invested in this way.
Overall, this news is a positive development for Binance and the cryptocurrency industry as a whole. It marks a significant step forward in the development of more traditional investment products for cryptocurrency users, and demonstrates Binance's commitment to building trust with regulators and expanding its offerings to include more traditional investment opportunities.
