Crypto Exchange Binance Hit With ‘Influx of Institutional’ Demand
Binance is launching a new feature to help satisfy a sharp rise in demand from institutional investors.
The leading crypto exchange is allowing organizations to create multiple trading accounts under one profile, along with improved managerial control and asset audit tools.
Binance CFO Wei Zhou told The Block the update is designed to satisfy an influx of demand from institutional clients, giving them a higher level 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 says the new feature is one of its most requested add-ons, bringing the exchange “one step closer to a comprehensive, full-stack offering for institutional clients.”
The update includes a new dashboard panel with comprehensive balance reporting, account management, asset management, order management, transfer history, and login history features.
The new sub-account feature is up and running for corporate users and anyone with VIP 3 tier (or higher) accounts.