The introduction of a new exclusive platform for institutional investors and VIP customers to trade digital assets was announced on June 24th by Binance, among the largest crypto exchanges.
Specialized services to high-net-worth individuals and institutional investors such as asset managers, hedge funds, and family offices are offered in the new advanced platform called ‘Binance Institutional.’ Algorithmic trading, asset management, and a brokerage program are some of the other services the platform offers.
A new Twitter account was created under the name of ‘Binance Institutional’ where the news was shared.
In an effort to strengthen its institutional products and services, the new product is launching, according to the Twitter post by Binance.
— Binance VIP and Institutional (@BinanceVIP) June 23, 2022
The webpage is not visible to Binance.US users however it is accessible through Binance’s main website.
Over-the-counter liquidity, advanced custody solutions, a suite of broker products, access to instant pricing, algorithmic trading execution, and a liquidity program for traders in spot and futures markets, is what the product offers, according to the webpage of Binance Institutional.
Despite the current market slump, Binance intends to continue expanding its operations with the introduction of ‘Binance Institutional.’
So far this month, nearly 1,700 crypto job losses have been revealed across all crypto trading platforms, amid many companies announcing massive layoffs due to ‘crypto winter.’
While the bear market is far from ending, now is an excellent opportunity for crypto companies to raise investments and attract more expertise, according to Changpeng Zhao (CZ), the CEO of Binance.
Binance intends to hire 2,000 additional employees and seek acquisition prospects thus remaining hopeful and confident during the current crypto conditions.
Binance’s CEO suggests that “poor” crypto ventures should be allowed to fail and should not be bailed out. However, he noted that major companies, such as Binance, need to assist industry members in surviving the present conditions of the market.