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
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
“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 conference titled,
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
That week will also see the two-day Hackathon called the
What do you think about this development on the Binance platform? Feel free to leave a comment down below.