• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved
Binance

Binance Plans To Extend The Boundaries Of Crypto Industry In Non-Crypto Businesses

Kashif (Dany) Saleem by Kashif (Dany) Saleem
2 years ago
in Binance
0

The world’s leading cryptocurrency exchange, Binance, plans to invest in non-crypto companies to enlarge the boundaries of the crypto-sector in the mainstream, said Chengpeng Zhao, founder, and CEO of Binance, in an interview with Financial Times.

C.Z. added; 

We want to identify and invest in one or two targets in every economic sector and try to bring them into crypto. So the strategy is about making the crypto industry bigger.

Related Reading | Crypto Under Scrutiny, Documentary Will Show Its True Face?

In the last month, Binance has purchased the stakes of U.S.-based publication, Forbes, for $200 million, which will be listed on the New York Stock Exchange. The giant exchange had once filed a case against Forbes nearly a year ago, and now it has become one of the two largest owners of this publisher.

At the time of investment, Mike Ferdele, CEO at Forbes, stated; 

With Binance’s investment in Forbes, we now have the experience, network, and resources of the world’s leading crypto exchange and one of the world’s most successful blockchain innovators.

Similarly, the world’s biggest exchange by trading volume is also investing in cryptocurrencies. It has set its own fiat-to-crypto payment platform Bifinity to provide merchants crypto-ready businesses. Last week, it lent $36 million to Eqonex, which can be converted into an equity stake. Eqonex is a publicly trading digital assets platform, the parent company of Digivault, which was the first to get regulatory approval from FCA last year.

BNBUSD
BNB coin price is currently trading in red at $376. | Source: BNB/USD price chart from TradingView.com

Binance VS FCA

Binance also managed to set a deal with Paysafe to get access with Faster Payment Service, a significant payment service of the U.K., allowing businesses and individuals to transfer funds between payment service providers in no time.

Afterward, the FCA expressed concerns over the giant exchange, as a crypto platform got access to the country’s primary payment network. However, the officials added that though they have “limited powers” to object to these types of settlements, the “concerns over Binance remain.”

On the Bifinity’s move to lend Eqonex, FCA stated;

Eqonex Limited is the parent company of Digivault Limited, one of the crypto asset businesses registered by the FCA under the Money Laundering Regulations (MLRs). As a result of the transaction, individuals and entities that are part of the Binance Group may have become beneficial owners of Digivault for the purposes of the MLRs.

Related Reading | Is Biden The Crypto Whisperer? Industry Leaders Weigh In On New Executive Order

In the official blog post, FCA added that their concerns remain until any outstanding issues are identified in Binance Market Limited. It includes all the crypto-oriented businesses highlighted in a supervisory letter last year. It signifies that crypto entities would need to comply with the sanctions.

Previous year’s crackdown by regulators targeted giant crypto exchange Binance many times. In turn, now it employs 70 individuals in the U.K., most of them handling regulatory concerns, as reported by Financial Times.

Featured image from Pixabay and chart from TradingView.com

 

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Kashif (Dany) Saleem

Kashif (Dany) Saleem

Veteran crypto and finance writer & editor.

Related Posts

Binance

Warning: Binance Collapse And 10-Year Sentence Looms For CZ, Ex-SEC Official Says

1 day ago
Binance

Binance’s $4.3B Settlement Marks Crucial Shift in Regulatory Crackdown, Says US Official

2 days ago
Binance

Binance Initiates Zero-Fee Trading For 6 Cryptocurrency Pairs

2 days ago
Binance

Here Are The Exchanges Currently Benefiting From Binance’s Troubles – Report

6 days ago
Binance

Cristiano Ronaldo May Settle Binance Lawsuit For $750K To Avoid Public US Trial

7 days ago
Binance

Binance And Banking Partner Collaborate To Establish World’s First Triparty Crypto Arrangement

7 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • 4 Cryptocurrencies For Beginners to Buy Today

    1 hour ago
  • Ethereum’s Next Chapter: Exploring Emerging...

    2 hours ago
  • How and where to buy Retik Finance (RETIK)?

    9 hours ago
  • Retik Finance (RETIK) has everything to be the hottest Defi...

    9 hours ago
  • As EOS and Celestia Investors Seek New Ventures, a Budding...

    10 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.