Binance Launches New Institutional Platform for VIP Investors

Key Insights:

• Binance has launched an advanced platform for VIP and institutional investors.
• The platform offers an array of services like advanced custody solutions and over-the-counter liquidity and execution for algorithmic trading.
• The VIP program offers rewards and privileges based on nine tiers.

The world’s largest cryptocurrency exchange by trading volume, Binance has launched a flagship platform for VIP and institutional investors to trade digital assets.

The advanced Binance Institutional platform is far from linear in its offering and will provide a new suite of trading services aimed at institutions, high-net worth individuals, crypto platforms, family offices, crypto miners, hedge funds and asset managers.

The company has certainly been working on upgrading its institutional offerings such that its new platform will provide a plethora of services ranging from advanced custody solutions to over-the-counter liquidity and execution for algorithmic trading, as well as access to instant crypto pricing.

Users can also expect a suite of broker products and a liquidity program for traders in spot and futures markets. More specifically, the Binance Broker Program will enable enterprise clients to leverage Binance technology for their own businesses.

Nine-tier Program

The VIP program offers rewards and privileges for those individuals whose trading volume climbs up the nine designated VIP tiers. To qualify, an investor must have a 30-day trade volume of at least 1 million BUSD and a balance of at least 25 BNB.

Anyone aiming for the highest tier must have a 30-day trade volume of at least 5 billion BUSD and a BNB balance of at least 5,500. Importantly, VIP privileges include fee discounts and higher 24-hour withdrawal limits.

However, Binance Institutional is not available to customers of its U.S. branch, Binance.US.

Expansion Plans

Despite the crypto winter, Binance has been laser focused on expansion, announcing 2,000 open positions while its rivals cut large parts of their workforce. Also, Binance.US launched zero-fee Bitcoin (BTC) trading this month with plans to eliminate charges for more tokens in the future.

The company recently raised $200 million in a seed round that valued it at $4.5 billion. Investors included a mix of early stage venture capitalists and crypto-native firms such as RRE Ventures, Foundation Capital, Original Capital, VanEck and Circle Ventures.

Notably, Binance is seeking to obtain both SOC 2 and ISO-27001 certifications to bolster its services. The former is issued by auditors who assess the extent to which a company, based on the systems and processes it has in place, complies with security, availability, processing integrity and confidentiality principles.

Meanwhile, ISO-27001, which is considered to be a gold standard certification for information security management, signals that a company’s infrastructure, operations, and team are dedicated to maintaining the highest security standards. Binance already practices strict regulatory compliance in every jurisdiction it operates under for its 90 million registered users.