Binance is reportedly examining a proposal to offer its institutional clients the option to secure their collateral outside the crypto exchange in a bid to reduce counterparty risk.
The move comes amidst growing calls from institutional digital-asset traders for a much-needed change after FTX’s dramatic collapse late last year that led to significant losses.
Reducing Counterparty Risk
According to anonymous sources familiar with the matter, Binance is holding discussions with some professional customers about a setup that would enable them to use bank deposits as collateral for margin trading in spot and derivatives.
Names of two potential intermediaries – Swiss-based FlowBank and Liechtenstein-based Bank Frick – have been mentioned, but details on further deliberations remained private. However, both financial institutions have refrained from commenting on the setup.
Bank Frick, for one, cited banking secrecy laws and declined to comment. FlowBank, on the other hand, said its li
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