Binance, Exchanges

Is Mandala Owned by Binance?

Binance, the world’s largest cryptocurrency exchange by trading volume, has acquired a majority stake in digital asset management firm Mandala. The deal, announced today, will see Binance invest up to $3 million for a 60% stake in Mandala.

Founded in 2018, Mandala is an end-to-end digital asset management platform that allows users to buy, sell, and trade a variety of digital assets. The platform also offers a suite of tools for managing portfolios and tracking performance.

The acquisition is part of Binance’s larger strategy to build out its ecosystem and offer more services to users beyond just trading. Binance already offers a number of other services, including a lending platform, a payment gateway, and a data analytics tool.

With the acquisition of Mandala, Binance will now be able to offer its users a full-fledged digital asset management solution. This is significant because it will allow Binance to tap into the growing market for institutional investors who are looking for ways to safely and securely invest in digital assets.

The acquisition is also a signal that Binance is serious about building out its presence in the United States. While the exchange does not currently offer trading services in the US, it has been aggressively expanding its team there in recent months.

The addition of Mandala will give Binance a much-needed foothold in the US market.

So Is Mandala owned by Binance? Yes, Binance has acquired a majority stake in digital asset management firm Mandala.

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