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.

AccessTimeIconJul 23, 2020 at 4:00 p.m. UTC
Updated Aug 19, 2021 at 3:18 a.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

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.”
  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.