The crypto exchange Binance announced that its custody business has launched an off-exchange settlement solution for institutional clients.
with Binance Custody. The assets can then be mirrored on their Binance exchange account.
Binance notes that assets in the cold storage will be kept safe as long as the mirror position remains open on the Binance exchange, which can be settled at any time. The crypto exchange also detailed that assets held in Binance Mirror “account for more than 60% of all assets secured on Binance Custody.” The exchange said Binance Mirror experienced significant growth during the final quarter of 2022.
By using the mirror service, institutional investors have access to the range of products on the Binance exchange, as well as “institutional VIP Loans.” Athena Yu, the vice president of Binance Custody, explained that institutions are looking for top-notch security but also “the deep liquidity that the Binance Exchange offers.”
“We spent much of last year refining its operations to help our clients unlock the liquidity of their assets held in our cold storage,” the Binance Custody VP said in a statement on Monday. “We’re very excited about where we are today and can’t wait to introduce our upcoming new features that will elevate Binance Mirror’s functionality even further.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance Will Allow Institutional Investors to Keep Collateral Off the Exchange: Bloomberg.binance is reportedly removing a big hurdle for institutional investors, allowing them to keep their collateral off the exchange on Binance Custody while trading. By parikshitm899
Read more »
Introducing the Profit and Loss Statement On Binance P2P | Binance BlogIntroducing the Binance P2P PNL Statement 📄: 🔸 View and download a historical record of your buy and sell orders 🔸 Evaluate your financial performance 🔸 Keep records for taxation purposes. There's even more to it.
Read more »
Binance to let institutions store crypto with cold custodyBinance has officially launched Binance Mirror, an off-exchange settlement solution that enables institutional investors to invest and trade using cold custody.
Read more »
Binance Coin (BNB) Price Analysis for January 16Can BNB return to $300 by the end of the week? Dave_Jonez_02 BNB Pain_Alive_BNB Binance_DEX BinanceResearch
Read more »
Top 5 Lessons from CZ on MasterClass | Binance BlogIn case you missed it, cz_binance’s MasterClass series dropped last month! Here are the 5 main takeaways from CZ’s 18 videos and 3 hours 40 minutes of lessons.
Read more »
Binance CEO Trolls Jim Cramer as Bitcoin (BTC) Hits $21,500While $BTC absorbs the fall caused by FTX, CZ compliments famed crypto-hater Jim Cramer and asks for more bitcoin btc bitcoinnews cz binance bnb jimcramer cnbc
Read more »