Binance launches institutional platform for 'VIP' users

Quick Take

  • Binance unveiled a new platform called “Binance Institutional.”
  • The new product offers professional investors services like over-the-counter services and a broker program.

In an effort to expand its institutional offerings, Binance is launching a new platform for "VIP" users. 

Dubbed Binance institutional, the new product includes over-the-counter (OTC) services, asset management and custody services, a broker program and a liquidity program, the company said in an announcement Thursday.

More details on the new services are laid out on the Binance Institutional page. The company didn't disclose many details about how the new platform works internally.

Binance institutional is targeted at a wide array of institutional investors including asset managers, hedge funds, liquidity providers, miners and high-net-worth individuals, the company said.

Despite the bear market, Binance has kept expanding on a number of fronts lately. While many firms have recently announced layoffs, Binance is seemingly charging ahead in the opposite direction, even announcing recently that it was looking to fill 2,000 new positions.

On Friday, CEO Changpeng Zhao said in an interview that the company was considering about 5,200 proposals from crypto companies and looking into possible loans, minority investments and majority acquisitions.

This week the company also announced a multi-year deal with soccer star Cristiano Ronaldo, involving a series of NFT collections.


© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).

More by Catarina Moura