Changpeng Zhao, CEO of crypto exchange major Binance, has expressed his intention to invest or acquire a bank, Bloomberg reported.
The executive revealed that in the past, share prices of some banks increased significantly after they collaborated or partnered with Binance.
Aside from banks, the blockchain firm is also looking for financial institutions that hold certain licenses such as payment-service providers, as Binance wants to position itself as the bridge between the crypto and traditional financial worlds.
Previously, Bloomberg reported that Binance aims to spend more than US$1 billion on M&A transactions for 2022. Among the prominent deals that the crypto firm made this year include a US$200 million investment in Forbes and a US$500 million commitment for Elon Musk’s acquisition of Twitter.
See also: Binance’s big BUSD push heralds a stablecoin summer
Editing by Miguel Cordon and Lorenzo Kyle Subido
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