Binance is teaming up with Spanish banking giant BBVA to offer a new option for customers to store their assets off-exchange.

BBVA will serve as one of the independent custodians for Binance users—a strategic move aimed at boosting investor confidence amid regulatory scrutiny and security concerns triggered by past industry events like the FTX collapse.

This partnership builds on Binance’s efforts to reinforce compliance and reassure users after facing a substantial $4.3 billion fine in the U.S. for AML and sanctions violations, and the sentencing of its CEO to four months in prison.