cryptopotato.com
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).