Binance Enters German Market via Partnership With Crypto Investment Firm

Binance has partnered with licensed German investment firm CM-Equity to offer crypto asset management and brokerage services in Germany and Europe.

CM-Equity has a crypto custody license with Germany’s Financial Supervisory Authority (BaFin), allowing Binance, the largest crypto exchange by volume, to operate in the German market.
Digital asset custodians in Germany have to be licensed, per a law passed in January 2020. Crypto firms have scrambled to understand the new mandate; BaFin offered additional clarity on the new regulations in February.
“Depending on the residency of the user, some services were restricted and/or not marketed in certain jurisdictions,” Wei Zhou, Binance’s chief financial officer, said via email. “This partnership allows Binance to offer more services and market directly to more countries in Europe.”
The exchange would not clarify what kind of new services it would offer with CM-Equity, saying it would announce them in the coming weeks and months.
“Binance offers the best trading experience in the market and we are thrilled to collaborate with the world’s number one,” CM-Equity CEO Michael Kott said in a press release. “Our fully licensed digital assets platform will benefit from the best liquidity and frictionless service offered by Binance.”

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