@Injective $INJ
What is the long-term value for Binance in facilitating the migration of institutional capital (through Binance Custody and other integrations) to a decentralized financial layer like Injective, instead of keeping that capital and trading volume within its centralized exchange?
Strategic friction elements
Infrastructure vs service: Injective is building the infrastructure (the highway) for decentralized institutional finance. Binance offers the centralized service (the gas station). The question addresses whether these two functions are complementary or if one will ultimately replace the other.
Leveraging regulation: Injective's ability to offer programmable compliance (whitelists) directly on-chain is a significant advantage for institutions. Binance must decide whether this advantage of Injective is an asset for them or a competitive threat.
The role of custody: The fact that Binance Custody integrates with Injective is the clearest proof of synergy, but it is also the point of greatest conflict: Binance is helping clients take their capital directly to their decentralized competitor.
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