Binance Launches Multi-Account Feature for Institutional Crypto Traders

Crypto exchange Binance is looking to aid institutional investors with a new sub-account feature.

Announced Thursday, these sub-accounts will allow institutions to set up multiple trading accounts for each firm, with different accounts being given different levels of access and control. The firms’ main accounts will be able to control these sub-accounts, granting them permissions as needed.

A single institution may have up to 200 sub-accounts, according to the exchange.

In addition to the different levels of account types, Binance will allow different sub-accounts to transfer funds with no fees and unique API limits per sub-account, meaning they will be able to trade at a greater capacity than they might otherwise be able to do.

While sub-accounts will be able to oversee their own trades, create and edit their own API keys and place their own orders, the main accounts will be able to view all data, transfer funds between accounts and cancel any and all orders placed.

The new sub-account system will be based on Binance’s existing institutional account structure, with any institutions tagged as Tier 3 or above able to set up these accounts.

According to a previous blog post, this means accounts with a minimum BNB balance of 1,000 and at least 4,500 bitcoin in trading volume over the previous 30 days will be eligible.

Binance joins a number of other crypto firms in looking to institutional traders as clients. In the U.S., security firm BitGo has been growing its trust and custody division, hiring a veteran banker as CEO of the new wing.

Similarly, crypto exchange Poloniex just launched its own trading services aimed at institutional investors, offering similar API services, though it did not list any similar sub-account feature.

Coinbase has likewise been looking to increasing traffic from institutional investors with its new over-the-counter trading desk. While the desk is still being tested, the exchange plans to take it live in the coming weeks.

Binance image via Grey82 / Shutterstock

Author: Nikhilesh De

Source link

Related posts

9 Thoughts to “Binance Launches Multi-Account Feature for Institutional Crypto Traders”


    … [Trackback]

    […] Read More here to that Topic: […]

  2. sekabet giris

    … [Trackback]

    […] Find More on to that Topic: […]

  3. คลิปหลุด

    … [Trackback]

    […] There you can find 99374 more Info on that Topic: […]

  4. sportsbet

    … [Trackback]

    […] Find More to that Topic: […]

  5. dumps pin legit

    … [Trackback]

    […] Read More here on that Topic: […]

  6. visit the website

    … [Trackback]

    […] Find More here to that Topic: […]

  7. passive income 2022

    … [Trackback]

    […] Read More Information here on that Topic: […]

  8. look at here

    … [Trackback]

    […] Read More here to that Topic: […]

  9. sbobet

    … [Trackback]

    […] Information on that Topic: […]

Leave a Comment