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“Crypto winter” doesn’t seem to be in Binance’s dictionary, as the world’s largest cryptocurrency exchange is rolling out a platform for institutional investors.
Specifically, Binance has announced the launch of Binance Institutions, a new trading services division aimed at institutions, crypto platforms, home offices, high net worth individuals, miners cryptocurrencies, asset managers, and hedge funds.
The new platform offers a wide range of services to this group of customers, including execution services, OTC trading, instant crypto pricing, algorithmic trading, wealth management services, and the Binance broker program. for corporate customers to take advantage of the technology that Binance has available to their own businesses.
— Binance VIP and Institutional (@BinanceVIP) June 23, 2022
Additionally, Binance said that through Binance Institutions, the exchange wants to embark on a journey of full compliance to achieve SOC 2 and ISO-27001 certification, both of which are essentially a standard instrument. regulatory standards to ensure trust, security, compliance, and audit. Especially in the recent context, Binance has been constantly entangled in “dark” legal questions related to the lax process of customer identity verification (KYC).
However, with the launch of Binance Institutions, it once again affirms Binance’s solid position in the crypto market despite the general downturn showing no signs of stopping. Many of Binance’s competitors such as Coinbase, crypto platform BlockFi, Crypto.com, Bybit, etc. are reducing their workforce massively, but the business situation is still going on as usual with Binance. Binance even expanded its recruitment and made acquisitions.
On June 22, the US branch of Binance, Binance.US also announced that they will be eliminating Bitcoin transaction fees for customers. According to Binance.US CEO Brian Shroder, the “crypto winter” is an opportunity for the company to help revolutionize the approach to fees in the industry, increase user accessibility, and help ease market pressures. difficult force.
In addition, Binance has really created an “earthquake” with global fans when it announced a multi-year partnership with Portuguese soccer superstar Christiano Ronaldo. As part of the deal, more NFT collections designed by the player who owns the five golden balls will be released in the near future.
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