People familiar with the matter: Binance has begun allowing some large traders to store assets in independent banks such as Sygnum Bank

Odaily News According to three people familiar with the matter, Binance has begun allowing some larger traders to store their assets in independent banks, including Switzerland’s Sygnum Bank and Flow Bank. Previously, Binance customers could only hold assets on the exchange or through the custodian Ceffu. Ceffu says on its website that it is the “only institutional custody partner of Binance exchange.” Last year, U.S. regulators described Ceffu as a “mysterious entity associated with Binance.” (FT)