Laying the Groundwork for Institutional Capital
As blockchain technology matures and a robust ecosystem is established, we expect a larger number of institutional investors to increase their allocation into this asset class. At Binance, we feel it is important we evolve to cater to the needs of our user base. In this article, we'll take a look at some of the ways we've prepared for the potential demand.
Building the technological foundation
Since its inception, Binance has been dedicated to providing a trading platform with the highest level of security, reliability and liquidity, as well as a quality selection of tradeable tokens and coins. Underlying our top-tier trading experience is an industry-leading technological foundation, meaning that even at the highest periods of market activity to date, our service remained strong and steady. To keep our exchange running smoothly at peak periods, we've continued to steadily develop our technological processes since our launch in July 2017.
It is in large part thanks to this proven foundation that Binance has gained traction and credibility among institutional investors who, in turn, have steadily grown in numbers and sophistication.
In addition to our focus on technology, we've taken progressive steps in the development of comprehensive services for the most demanding crypto traders around the world. The recent closure of a strategic investment round led by Vertex Ventures will facilitate a future fiat-to-crypto gateway in Singapore — just one milestone in our path to future growth in preparation for the institutional adoption of cryptocurrency as a new asset class.
Bespoke services for high volume traders
In July 2018, we rolled out our tiered trading fee discount program, establishing eight different levels of discounts for corporate account holders, each of which is tied to competitive pricing on trading fees. The offered market maker/taker model was set as a precedent in the offerings for executing trades and was found extremely affable by liquidity providers in particular. With greater benefits for higher volume traders, our tiered program sparked activity from institutional participants of all sizes.
Greater support for Corporate Account holders
Based on your feedback, we've ramped up our corporate account management processes to better handle requests and concerns. Our dedicated services include customization of API limits and withdrawal limits. Following an upgrade in our back-end architecture, we are now able to provide greater operational flexibility to meet the evolving needs of our clients.
Besides providing specialized support for corporate users, recent additions to our ecosystem will also bring benefits to traders: our new division Binance Research provides open-access, institutional-grade research reports on blockchain projects, with an eye on increasing transparency and improving the overall quality of information available within the cryptocurrency space.
Getting started with corporate accounts
Based on your feedback, we've ramped up our corporate account management processes to better handle requests and concerns. Binance provides a straightforward registration process for institutions. After registering a Binance account, simply head to the user center and apply to upgrade to Institute/Corporate level. Once the required materials have been submitted, our team of key account managers will look after the verification process. It usually takes up to two business days to hear back from us on the status of your application.
Once your application is approved, your account will be automatically upgraded to the daily withdrawal limit of 100 BTC, and you are all set to start trading. If you require a higher withdrawal limit, get in touch with your Key Account Manager.
API
Our API system makes it easy for businesses to directly access the Binance platform. To ensure maximum security, we offer multiple API access levels with customization for transfer, trading and read-only permissions. Furthermore, we have settings to limit the addresses that funds can be withdrawn to, preventing withdrawal of funds to a foreign address.
Check out our Github page to learn more.
Sneak peek: What's in store for institutional traders?
Binance's Q4 roadmap is marked with several crucial updates aiming to tweak and optimize the core trading experience for enterprise traders. We're equipping users with a cross-functional set of trading management tools, starting with the release of a much-requested sub-account feature by the end of December. Features include:
● Up to 200 sub-accounts supported
● Account and trading activity overview for sub-accounts: login history, open orders, etc.
● No-fee transfers of funds between sub-accounts
● Full control of sub-accounts, including resetting 2FA, removal of API keys/orders and passwords, or even freezing the sub-account
In addition, we also plan to host more offline meetups for corporate users to provide a more informal setting for networking and industry discussion.
Providing quality services and rapid innovation is vitally important for the continued development of the industry, particularly as institutional capital moves into the world of cryptocurrency. At Binance, we are always striving to improve the experience for our users, and we are eager to rise to the challenge of providing ever-better services on all levels of the trading spectrum. Whether you're an individual trader or trading on behalf of a larger institution, register for a Binance account today and try our industry-leading trading experience for yourself.
For more information on corporate accounts, reach out to us: corporate@binance.com.