Binance want to buy a bank.
Crypto investors have a saying:
"Bear markets are for buying and accumulating."
It's a saying that typically refers to accumulating crypto - but Binance CEO, Changpeng “CZ” Zhao, is putting a whole new spin on the ethos.
According to CZ, Binance is looking to buy a bank.
Here's his thinking:
Lots of people are starting to consider crypto investments, and as a result, more and more banks are offering crypto services to meet the demand.
If users don't have to sign up to a third-party platform, and can instead use their existing banking app to buy crypto - that's a much better experience for consumers.
...and while Binance is currently working with banks to provide these services, CZ figures:
If banks are going to start playing 'middle man' to crypto, we might as well own some of them.
The takeaway? This is a signal that cryptocurrency's march to mass adoption isn't slowing down (bear market or not).
Nice!