Crypto Exchange Binance Launches Sub-accounts Amid ‘influx of institutional’ Demand


Crypto Exchange Binance has recently launched a brand new feature to help satisfy a incredible rise in demand from institutional investors.

Satisfying Demand

The exchange will now allow organizations to create multiple trading accounts under a single profile, along with vastly improved managerial control and asset audit tools.

Wei Zhou, CFO of Binance, commented to The Block on the update stating that it’s designed to satisfy an influx of demand form institutional clients, allowing them to have higher levels of control over their accounts.

“We are seeing an influx of institutional accounts in the space and anticipate institutional demand to pick up substantially in the coming months. One of our key focuses is to provide a platform that services the needs of these clients as well as our retail users.”

Binance has stated that this new feature was one of the most requested add-ons they’ve had so far. This has brung the exchange “one step closer to a comprehensive, full-stack offering for institutional clients.”

The update further includes a new dashboard panel containing comprehensive balance reporting, account management, asset management, order management, transfer history, and login history features.

At this time, the new sub-account feature is running for corporate users and anyone with VIP 3 tier or higher accounts.

Our Thoughts

Binance continous to roll out updates in it’s climb to remain one of the biggest crypto exchanges in the space. Just this July, the exchange introduced tiered trading-fee discounts to incentivize institutional investors, each level being determined by account holders 30-day trading volume and Binance Coin balanace. It’s going to be quite interesting to see what Binanace manages to roll out once the new year begins.

 

 


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Keith Wang

Keith Wang is a writer and programmer specializing in bitcoin and blockchain technology. Keith has been a long time believer of bitcoin and blockchain technology and spends his free time following up with blockchain news. You can contact Keith at keith@cryptomenow.com

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