Binance Holdings Ltd. founder and CEO Zhao “CZ” Changpeng, who last month said the crypto exchange may spend more than $1 billion on deals this year, is considering targets including banks as the boundary between the digital-asset industry and traditional finance blurs.
“There are people who hold certain types of local licenses, traditional banking, payment-service providers, even banks. We’re looking at those things,” Zhao said in an interview at the Web Summit conference in Lisbon, without identifying a target. “We want to be the bridge between crypto and the traditional, financial world.”
Binance is open to minority investments or a full acquisition, according to Zhao. He said it’s an opportunity for Binance to capitalize on the expected increase in a bank’s share price after signing a business agreement with the company, which operates the world’s largest crypto exchange.
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