Binance Launches Multi - Account Feature for Institutional Crypto Traders

[PRIBO247]

Crypto exchange Binance is looking to aid institutional investors
with a new sub-account feature.
Announced Thursday , these sub-accounts will allow institutions
to set up multiple trading accounts for each firm, with different
accounts being given different levels of access and control. The
firms’ main accounts will be able to control these sub-accounts,
granting them permissions as needed.
A single institution may have up to 200 sub-accounts, according
to the exchange.

In addition to the different levels of account types, Binance will
allow different sub-accounts to transfer funds with no fees and
unique API limits per sub-account, meaning they will be able to
trade at a greater capacity than they might otherwise be able to
do.

While sub-accounts will be able to oversee their own trades,
create and edit their own API keys and place their own orders, the
main accounts will be able to view all data, transfer funds between
accounts and cancel any and all orders placed.

The new sub-account system will be based on Binance’s existing
institutional account structure, with any institutions tagged as Tier
3 or above able to set up these accounts.

According to a previous blog post , this means accounts with a
minimum BNB balance of 1,000 and at least 4,500 bitcoin in
trading volume over the previous 30 days will be eligible.
Binance joins a number of other crypto firms in looking to
institutional traders as clients. In the U.S., security firm BitGo has
been growing its trust and custody division, hiring a veteran
banker as CEO of the new wing.

Similarly, crypto exchange Poloniex just launched its own trading
services aimed at institutional investors, offering similar API
services, though it did not list any similar sub-account feature.
Coinbase has likewise been looking to increasing traffic from
institutional investors with its new over-the-counter trading desk .
While the desk is still being tested, the exchange plans to take it
live in the coming weeks.

Source : https://www.coindesk.com

[bubblebubble]

Wow, Bilance is investing day by day in innovation.
I wish we are going to thank it one day when istitutional players will start investing in crypto.