Binance Adds Sub-Account Features to Attract Institutional Investors

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Binance Adds Sub-Accounts Features for Institutional Investors

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Top cryptocurrency market shareholder by daily trading volume Binance announced today through its blog post that it is creating a sub-account support feature to help with accommodating institutional investors.

It’s widely acknowledged that there’s a growing interest from the institutional sectors in cryptocurrency and some believe that the next phase of cryptocurrency development will be facilitated by these entities.

Binance seems to be preparing itself for this expectation by adding features to improve its services. “Binance is thrilled to announce the launch of our long-anticipated sub-account feature, which brings improved managerial control and asset audit tools to institutional account holders”, the blog post reads. It further touts this development as “one step closer to a comprehensive, full-stack offering for institutional clients”.

Binance further explains that “the new sub-account feature is available to corporate users and individuals with VIP 3 tier (or higher) accounts”. That is based on the already established institutional account system.

These sub-accounts are designed to allow institutions to have flexible handling and access control to multiple trading accounts for different firms. Different account levels will be provided to these institutions and they’ll have control over each sub-accounts of the firms. According to the exchange, “the original/main account has sole control over the movement of assets… different access levels for up to 200 sub accounts”.

The blog also infers that sub-accounts are properly compartmentalized with enhanced with security features to minimize risks of tampering. More so, the accounts have unique APIs with different access privileges.

The perceived coming influx of institutional investments has prompted similar service providers to adjust their operations to accommodate these significant changes when they happen. About a week ago, Coinbase launched over-the-counter (OTC) trading for institutional clientsIn Israel, an investment house plans to launch the first dedicated digital coin investment platform for institutional and accredited investors.

 

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