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Binance Launches VIP and Institution-focused Platform

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Binance has announced the launch of its new flagship platform for VIP and institutional users.

  • With a new platform dubbed “Binance Institutional,” the cryptocurrency exchange giant is looking to modernize its institutional offerings and services.
  • The entities that Binance is targeting with its latest offering include corporations, asset managers, brokers, hedge funds, family offices, high net worth individuals (HNWIs), liquidity providers, proprietary trading firms, miners, etc.
  • According to the official blog post, Binance Institutional will offer execution and over-the-counter (OTC) services, asset management and custody, a brokerage program, and a liquidity program.
  • It also plans to provide institutional grade products and services such as trading solutions, yield products, professional services, and data and reporting.
  • With the ongoing debacle in the crypto market, Binance has managed to stay afloat without cost cutting efforts, which presents a very different picture compared to its competitor Coinbase.
  • The company previously reported an increase in investment in talent and acquisitions.
  • Most recently, Binance signed an exclusive multi-year NFT partnership with Portugal and Real Madrid legend Cristiano Ronaldo.
  • The Czech-led exchange is also planning a global expansion despite scrutiny.
  • The CEO also mentioned the possibility of returning to South Korea almost two years after the closure of its Korean division.
  • Last month, Binance received approval from Italy’s financial regulator, Organismo Agenti e Mediatori (OAM), to operate as a crypto service provider in the country.
  • In addition to the licenses in Bahrain and Dubai, the French Autorité des Marchés financiers (AMF) has also allowed Binance to operate as a Registered Digital Asset Service Provider (DASP).
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Credit : cryptopotato.com

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