Binance Outpacing Deutsche Bank In Overall Profit Yield

Deutsche Bank's net profit results for this year's first quarter are in and not surprisingly, Binance, one of the world's largest cryptocurrency exchanges, has surpassed the German financial institution in its overall profit yield.

While Deutsche bank raked in an impressive $146 million over the course of Q1 2018, Binance brought in profits in excess of nearly $200 million during the same time frame.

What is even more impressive is that while Deutsche Bank currently has on its roster more than 97,000 employees, Binance works at full capacity with under 200 people and has only been in operation for a little under a year - eight months to be exact.

Within the first three months of its launch, Binance reported a profit turnaround of around $7.5 million, and after its impressive monetary showing, investors are extremely hopeful of what is to come in the future.

"We expect to incur even more economic growth. Any country that can attract Binance to open a branch in their location will receive a handsome tax income revenue."

Given the rate at which the crypto market has been growing, Binance's move to relocate from Taiwan to Malta is what many people consider to have been the company's financial masterstroke.

It is no secret that the government of Malta is embracing the cryptocurrency industry with open arms and is providing startups of all sizes with a lot of monetary impetus - thus allowing Binance to capitalize on the influx of new money to the small European nation.

With economies like Russia , South Korea and Estonia beginning to embrace cryptocurrencies, Christian Sewing, CEO of Deutsche Bank, stated that in order for her company to stay relevant in the market, they are looking to gradually wean away from "Hedge fund investments" and focus more on stabilizing within the few areas where the bank is still dominant.

"Deutsche Bank is deeply rooted in Europe - here we want to provide our clients access to global financing and treasury solutions. This is what we will focus on more decisively."

The fact that a company as young as Binance was able to outpace a major financial player like Deutsche Bank only goes to show the potential of the cryptocurrency market.