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Binance launches VIP and institution-focused platform

                                                            Binance hat die Einführung seiner neuen Flaggschiff-Plattform für VIP- und institutionelle Benutzer angekündigt.
  • With the new platform called “Binance Institutional”, the crypto exchange giant wants to improve its institutional offerings and services.
  • The entities that Binance is targeting with its latest offering include corporations, wealth 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, a brokerage program, and a liquidity program.
  • It also plans to offer institutional-grade products and services such as trading solutions, yield products, professional services, and data and reporting.
  • Amid the ongoing crisis in the crypto market, Binance has managed to stay afloat without cost-cutting efforts, a strikingly different picture from its rival Coinbase.
  • It had previously shown increasing investment in talent and acquisitions.
  • Recently, Binance signed an exclusive multi-year NFT-Partnership with Portugal and Real Madrid legend Cristiano Ronaldo.
  • Despite intensive examination, the stock exchange managed by CZ also has global expansion in mind.
  • The chief executive had also mentioned the possibility of re-entering South Korea almost two years after its Korean branch closed.
  • Last month, Binance received 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 the licenses in Bahrain and Dubai, the French Autorité des Marchés Financiers (AMF) has also awarded Binance the right to operate as a Registered Digital Asset Service Provider (DASP).
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Source: Crypto News Deutsch

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