CRYPTO

Binance Launches VIP and Institution-focused Platform

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Binance has announced launching its new flagship platform for VIP and institutional users.

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  • With the new platform, dubbed “Binance Institutional,” the crypto exchange giant aims to upgrade its institutional offerings and services.
  • The entities Binance is targetting with its latest offering include corporates, 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, broker program, and liquidity program.
  • It also plans to provide institutional-grade products and services such as trading solutions, yield products, professional services, as well as data and reporting.
  • Amidst the ongoing crypto market rout, Binance has managed to stay afloat without cost-cutting efforts, a strikingly different picture painted in comparison to its rival Coinbase.
  • It had earlier revealed ramping up investment in talent and acquisitions.
  • More recently, Binance signed an exclusive multi-year NFT partnership with Portugal and Real Madrid legend Cristiano Ronaldo.
  • The CZ-led exchange is also eyeing global expansion despite intense scrutiny.
  • The chief executive had also mentioned the possibility to re-enter South Korea nearly two years after closing down its Korean arm.
  • Last month, Binance scored a regulatory approval from Italy’s financial regulator – Organismo Agenti e Mediatori (OAM) – to operate as a crypto service provider in the country.
  • In addition to licenses in Bahrain and Dubai, France’s Autorité des marchés financiers (AMF) also gave the nod to Binance to operate as a registered Digital Asset Service Provider (DASP).
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