Exchanges

Binance exchange brings out new features for institutional investors

 Binance creates opportunity for new investors  

The crypto exchange Binance has launched a new Sub-account feature that will be enabled for institutional traders, in order to let them create multiple accounts under one profile.

The crypto market has continued its bearish trend, however, this has not been a reason for crypto-related companies to stop improving. This is a good time for the company to offer customers something new in order to continue developing in the space. 

There have been sub-accounts put in place for institutional investors, as the announcement has the top cryptocurrency exchange Binance planning on launching a new sub-account feature for institutions.

This will include high-tier individual traders as well as financial organizations. These sub-accounts will be able to enable institutions and organizations a like to register multiple trading accounts on the platform. In order to register multiple trading accounts of users and investorsfor up to 200 accounts that can be registered under one profile.

This will allow for the possibility of adjusting different levels of access and control for different accounts. The option has brought companies to open new main accounts that can be used to execute control over all newly-created sub-accounts and to give permission if it is required. 

Each sub-account is set to have its own API limits that will be managed with high capacity trading pairs. This will also allow for main accounts to be freezes or unfreeze through their own subordinates. 

In the new feature there is an update dashboard panel that will offer comprehensive balance reporting of accounts managements, order managements, asset management and transfer history together with login history options. 

Binance vision for the platform in the coming months

According to Wei Zhou, the Binance CFO, the new feature was designed to meet the growing demand from institutional clients on the side. He explained:

“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.”

In order to have access to a number of new sub-account features it will be necessary for the corporate users or individuals with to have at least a VPI 3 tier account. The VIP tiers will be calculated based on an aggregate basis and will also be corresponding to discounts that will be applied to all sub-accounts as explained by Binance.

A conference organised by Binance

The update is not the only reason to speak about the Binance upgrade feature for investors, as it has recently been announced that the company will be hosting its first conference in the coming weeks.

The conference titled, Binance Blockchain week is scheduled to take place from the 19th to the 22nd of January 2019 and will be held at the Sands Expo & Convention Centre in Singapore.

This event is expected to gather more than 2000 visitors from all over the world and will include industry-leaders like regulators, academics, investors, entrepreneurs and technologists. 

At the event they will all be discussing the current Blockchain ecosystem and the opportunities that lay ahead for developers and its sustainable growth across the global economy.

That week will also see the two-day Hackathon called the Binance SAFU(Secured Assets For Users) Hackthon. The main goal of the event will be to find the most cutting-edge and secure solutions for crypto assets, and the winner will receive a grand prize of $100,000 in Binance coin (BNB).

What do you think about this development on the Binance platform? Feel free to leave a comment down below.    

coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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