Binance Launches New Platform for VIP and Institutional Crypto Investors – The launch of “Binance Institutional,” a new platform for VIP and institutional cryptocurrency investors, was announced by global cryptocurrency exchange Binance on Thursday. According to the exchange, it is a part of Binance’s attempts “to strengthen its institutional offers and services.”
According to the company’s website, various types of institutions can use Binance Institutional’s services. Asset managers, brokers, hedge funds, family offices, proprietary trading organizations, liquidity providers, ultra-wealthy people, and mining firms are some of them.
Direct access to OTC liquidity, asset management, custody, and brokerage are just a few of the services available on the new platform.
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Changpeng Zhao (CZ), the CEO of Binance, said:
“Brokerage services are in a good position to support our industry’s expansion of digital assets by bridging some of the gaps between the crypto and conventional financial markets.”
As their trading volume moves them through the VIP tiers, users can “be rewarded with extra discounts and VIP privileges” through the VIP program, according to Binance. Fee reductions and increased 24-hour withdrawal limits are VIP benefits.
Nine VIP tiers are offered by the exchange. A VIP must have a balance of at least 25 BNB and a 30-day trade volume of at least 1 million BUSD. A level nine VIP has a BNB balance of at least 5,500 and a 30-day trade volume of at least 5 billion BUSD.
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Binance Launches New Platform for VIP and Institutional Crypto Investors – Amid allegations that Binance’s BNB token may be an unregistered security, the U.S. Securities and Exchange Commission (SEC) is reportedly looking into the token.
