As the leading global cryptocurrency exchange, Binance is committed to ensuring a seamless trading experience for its customers. With the demand for innovative and secure institutional tools continually increasing, we are pleased to announce that our Binance VIP and institutional clients now have exclusive access to MirrorX, the off-exchange settlement solution recently launched by our institutional custody partner, Ceffu.
As the only off-exchange settlement solution integrated with Binance, MirrorX offers our corporate clients a secure gateway to the world's largest cryptocurrency exchange by volume, without the need to move their assets from Ceffu's custody platform.
What is MirrorX?
MirrorX allows VIP and institutional clients of Binance to store their digital assets in Ceffu's crypto custody and instantly "mirror" them to a designated sub-account on Binance at a 1:1 ratio.
Assets mirrored from Ceffu to Binance are "locked" in the Ceffu collective account and delegated to a third-party custodial sub-account on Binance (custodied by Ceffu), which customers can then use to access most products available in the Binance ecosystem (Source : Ceffu)
Once the mirrored assets are credited to their sub-account, customers can use them to access most products available in the Binance ecosystem, including Spot and Margin trading. This agreement provides our VIP and institutional clients with an additional layer of security and convenience, ensuring that their assets remain segregated and in Ceffu's independent custody when using Ceffu's MirrorX.
It is important to note that:
Binance VIP and institutional customers must also open an account with Ceffu and complete the KYB verification process to start using the service.
Customers who already have an account with Ceffu will need to create a new Binance sub-account, called “Third-Party Custody”, which will be used specifically for MirrorX.
Ceffu currently only accepts applications from corporate clients.
To use MirrorX, Binance VIP and institutional clients will need to create a new sub-account wallet, called "Third-Party Custody", directly on the Binance platform to receive their delegated assets.
What are the benefits of MirrorX?
Instant asset delegation
A request of any size to mirror digital assets from Ceffu to Binance is instantly reflected in the customer's designated third-party custody sub-account on Binance, ensuring immediate availability of funds without hassle.
Automatic settlements
All MirrorX positions are automatically liquidated outside the broker on T+1, free of charge. Please note that any transfer out of the Third Party Custody subaccount will automatically trigger a liquidation.
Withdrawal of delegated assets
With MirrorX, customers can withdraw part or all of their mirrored assets from their Binance account by transferring assets from their third-party custody subaccount to their main account, or directly from Ceffu by delegating their mirrored funds.
Risk diversification
By keeping its assets in independent third-party custody, MirrorX allows our VIP and institutional clients to minimize asset exposure while continuing to benefit from the superior liquidity that Binance offers.
"We are constantly listening to feedback from our customers and what market needs we can address. Binance is already extremely attractive to institutional investors, offering the world's deepest liquidity and market-leading trading solutions, and through our partnership with Ceffu, we bring an additional layer of risk management that allows our clients to diversify their exposure while maintaining access to our liquidity. This positions us at the forefront of institutionalizing the digital asset ecosystem.” – Catherine Chen, Binance VIP and Institutional Leader
Get started with MirrorX
To learn more about MirrorX or to request a demo, contact your designated regional account coverage. If you are not yet a Binance VIP and Institutional customer and would like to learn more about our program, see How to become a Binance VIP.
Legal warning
Ceffu Content is presented to you "as is" for general information purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. Unless otherwise stated, Binance is not responsible for providing any services offered by Ceffu and is not responsible for any losses that may occur when using Ceffu services. For more information, see the Binance Terms of Use and Risk Warning and the Ceffu Terms of Use.