Deals
Binance, With Over $1 Billion to Spend, Weighs Buying a Bank
- Aims to ‘bridge the gap’ between crypto, traditional finance
- Binance is open to minority stake or outright acquisition
This article is for subscribers only.
Binance Holdings Ltd. founder and CEO Zhao “CZ” Changpeng, who last month said the crypto exchange may spend more than $1 billion on deals this year, is considering targets including banks as the boundary between the digital-asset industry and traditional finance blurs.
“There are people who hold certain types of local licenses, traditional banking, payment-service providers, even banks. We’re looking at those things,” Zhao said in an interview at the Web Summit conference in Lisbon, without identifying a target. “We want to be the bridge between crypto and the traditional, financial world.”