Global cryptocurrency exchange Binance on Thursday. Global cryptocurrency exchange announced the launch of “Binance Institutional”. Binance Institutional is a new platform for VIP and institutional cryptocurrency investors. It’s one of Binance’s efforts “to improve its institutional offerings and services”. It says by the exchange.
Binance Institutional’s services are designed for all types of institutions, as their website describes. They include asset managers, brokers, hedge funds, family offices, and proprietary trading companies.
Also include liquidity providers, high net worth individuals, and mining companies.
The new platform offers several services. It includes direct access to OTC liquidity, asset management, custody, and brokerage.
Binance CEO Changpeng Zhao (CZ) commented:
The VIP program allows users to be rewarded. Rewards with more discounts and VIP privileges will be given. It is when their trading volume moves up VIP levels, Binance explained. VIP privileges include discounts on fees and higher 24-hour withdrawal limits.
The exchange offers nine VIP levels. A VIP must have a 30-day trading volume of at least 1 million BUSD and a balance of at least 25 BNB. A Tier Nine VIP has a 30-day trading volume of at least 5 billion BUSD and a BNB balance of at least 5,500.
The U.S. Securities and Exchange Commission (SEC) is investigating Binance’s BNB token. U.S. Securities and Exchange Commission claims it could be an unregistered security.
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