Binance Adds New Feature For Institutional Investors
Binance, the world’s popular cryptocurrency exchange has announced its plan of launching a new sub-account feature for its institutional investors. On Thursday, the cryptocurrency exchange said that these sub-accounts would allow institutions to set up multiple trading accounts for each firm. Various accounts will be provided with different levels of access and controls. Binance’s main account will be able to control these sub-accounts, providing them permissions as required.
According to the reports, a single institution may have up to 200 sub-accounts. Binance will also provide various sub-accounts for transferring funds without any fees and unique API limits per sub-account. It means the institutional traders can trade at a higher capacity than they might have been able to do.
The main accounts can view all data, transfer funds between accounts, cancel orders that are placed while sub-accounts can create, edit their own API keys and place their own orders. The new feature will be based on Binance’s existing institutional account structure.
Recently, Binance has also announced the launch of Binance Research. Binance Research will be serving as a new pillar for Binance’s overall eco-system. This aims to help in the creation of institute-grade reports. These reports will promote the quality of information that is available in the realm of cryptocurrencies.
The Binance founder, Changpeng Zhao, was recently a part of Forbes blockchain conference. While talking at the summit, Mr. Zhao said that his firm is planning to launch their own blockchain. The plan aims to issue digital tokens and launch Initial coin Offerings (ICOs). The new platform is expected to launch in early 2019.