A new Platform by Binance for Institutional and VIP Crypto Traders

A new Platform by Binance for Institutional and VIP Crypto Traders

Binance , a cryptocurrency exchange, has introduced a new platform for institutional and VIP traders. The VIP program allows Binance customers to "be rewarded with increasing discounts and VIP privileges'' as their trading volume advances them through the VIP tiers.

The services of Binance Institutional are available to many kinds of institutions, according to the company's website. Some of them include asset managers, brokers, hedge funds, family offices, proprietary trading firms, liquidity providers, extremely rich individuals, and mining companies.

Brokerage services can help our industry's adoption of digital assets by bridging some of the gaps between the crypto and traditional financial markets, according to Binance CEO Changpeng Zhao (CZ).

As their trading volume moves them through the VIP tiers, users can "be rewarded with extra discounts and VIP privileges" through the VIP program, according to Binance. VIP perks include fee savings and raised 24-hour withdrawal caps.

Nine VIP tiers are offered by the exchange. A VIP must have at least 25 BNB in their account and 1 million BUSD in trade volume over the course of a 30-day period. A level nine VIP has a BNB balance of at least 5,500 and a 30-day trade volume of at least 5 billion BUSD.

Amid allegations that Binance's BNB token may be an unregistered securities, the U.S. Securities and Exchange Commission (SEC) is apparently looking into the token.

Other related news : Trading BTC is now free thanks to Binance U.S.