Binance, the largest crypto exchange in the world as per trading volume launched one flagship platform for all VIP as well as institutional investors for digital trading assets. This advanced institutional platform of Binance is more than linear in its offering. They will be providing one new suited to trading services that are aimed at institutions, individuals with high net worth, cryptocurrency platforms, and miners along with asset managers, hedge funds, and family offices. If you want to invest in crypto, hit this link for more information about cryptocurrency.
Certainly, this company has been working to upgrade its institutional offerings. So their new platform will be providing a wide range of services starting from advanced custody solutions to OTC liquidity and algorithmic trading execution. Also, there will be easy access to instant pricing of crypto.
Users too can expect several broker products and one liquidity program for traders in futures and spot markets. This program will enable enterprise clients to leverage the technology of Binance for their businesses.
Launch of Binance Institutional
Worldwide crypto exchange Binance declared the launch of their new platform Binance Institutional. It is for VIP and institutional crypto investors. It is their efforts of upgrading their institutional offerings along with services. This new platform will offer many services such as direct OTC liquidity access, management of assets, brokerage, and custody.
The CEO of Binance, Changpeng Zhao mentioned that brokerage services are properly positioned for helping their industry bridge a few of the gaps between traditional financial markets and crypto. Thus they will drive constant growth of the digital asset.
In the meantime, the US SEC is reportedly investigating the BNB token of Binance. They are alleging that it can be one unregistered security.
All about the nine-tier program
This VIP program will be offering rewards as well as privileges for individuals whose volume of trading moves up the nine designated VIP tiers. For qualifying, one investor must have a trading volume of 30-day of a minimum of 1 million BUSD and a minimum 25 BNB balance.
Anyone who aims for the highest tier must have a trading volume of 30 days of a minimum of 5 BUSD as well as a minimum 5500 BNB balance. Most important is the fact that VIP privileges will include fee discounts and withdrawal limits of higher 24-hour. Yet Binance Institutional is never available to any customer of their U.S. branch, US Binance.
Plans of expansion
Some crypto exchanges such as Coinbase and BlockFi are seen laying off their employees to keep their business efficient. But Binance is taking a unique approach to let it’s business afloat.
They said that they were expecting to raise almost $50 million to fund the continuation of their seed investment round in the upcoming days. Recently they strengthened their legal terms in many parts of the world as they ramp up efforts for scoring operational licenses worldwide.
Regardless of the crypto winter, Binance was laser-focused on expansion. It declared 2000 open positions. Its rivals cut huge parts of the workforce. The Binance U.S. launched Bitcoin trading with zero fees and has plans of eliminating charges for a lot of tokens later in the upcoming days.
Recently the company raised $200 million in one seed round that actually valued it at nearly $4.5 billion. Investors started to include one mix of venture capitalists of the early stage along with cryptocurrency-native firms like Foundation Capital, Circles Ventures, RRE Ventures, Original Capital, and VanEck.
They are seeking to obtain not only ISO 27001 but also SOC 2 certifications for bolstering their services. The latter is issued by some auditors. They assess the extent to which any company based on the processes and systems they have in place, complies with all security, processing integrity, confidentiality principles, and availability.
The former is considered to be equal to certification of the gold standard. It is for a signal that the infrastructure, team, and operations of a company are committed to maintaining information security management and the highest standards of security. It is mainly for the management of information security.
Binance has already been practicing stringent regulatory compliance in all jurisdictions it is operating under for its registered users of 90 million.
Conclusion
Thus this crypto exchange Binance launched its new platform for VIP and institutional investors. With this VIP program, they will be letting their users receive rewards with huge discounts apart from VIP privileges once their trading volume starts to climb up the VIP tiers.
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