Binance launching flagship platform “Binance Institutional” for VIP and Institutional users


World's largest Cryptocurrency exchange Binance, has announced the launch of flagship platform for VIP and Institutional users called “Binance
Institutional” which is a new suite of trading services offering that includes
asset managers, corporates, liquidity providers and proprietary trading firms. Binance
is the world’s largest crypto exchange by volume which has $7.7 Trillion in
annual exchange volume and 90 million registered users.
In this,
the crypto exchange has up scaled its operations through enhancing their
services by providing institutional offerings and services to target
institutional investors. Through a tweet Binance announced that
the platform has decided to launch this solution after “an effort to upgrade
its institutional offerings and services.”
VIP program
has features like rewarding users with more discounts and other VIP services
including trading services directed at institutions, crypto platforms, high-net
worth individuals, family offices, hedge funds, asset managers and also crypto
miners. Their trading volume increased by the VIP tiers due to this.
The new platform offers certain
services for its high rolling clientele, including execution and over the counter
(OTC) services like instant crypto pricing and algorithmic trading, asset
management services. Asset management and custody are the other features
included. Both broker and liquidity program are also being included. Fee
discounts and a higher 24-hour withdrawal limit are included in the VIP. Based
on the needs of various different institutions the services are customised
accordingly.
Institutional-grade products and
services including trading solutions, yield products, professional offerings
along with data and reporting are being included in the new service. As Binance assures prospective clients on its web pages for the new
product range, it will be compliant with regulatory requirements in all
jurisdictions. In a company statement, Binance.US CEO Brian Shroder
announced that it was eliminating trading fees for customers.
The crypto exchange is working to
obtain SOC 2 and ISO-27001 certifications which are essentially both a set of
standards ensuring trust, security, compliance and auditing. A total of nine
VIO tiers offered by Binance. As per this, a VIP is needed to have a 30-day
trade volume of a minimum of 1 million BUSD and a balance of at least 25 BNB. a
level nine VIP has a 30-day trade volume along with at least 5 billion BUSD and
a Binance balance of a minimum of 5,500 as per the highlights.
Portuguese superstar soccer
forward Christiano Ronaldo revealed about a multi-year joint marketing deal
with the exchange in which multiple Ronaldo-themed NFT collections will be
released every year.

Indrani bose
CBW - External Analyst
INDIA