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CRYPTO NEWS DESK — 2022-06-24

Binance Launches VIP and Institution-focused Platform

The new platform comes at a time when institutions are panicking over the price crash.

Binance Launches VIP and Institution-focused Platform

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

— Chayanika Deka of CryptoPotato - Crypto Blog

Keywords: AA News, Crypto News, Social, Binance


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