Binance, the largest crypto exchange by volume, announced Thursday that it is launching a sub-accounts feature to address demand from institutional investors. The company says the move will offer improved managerial control and asset audit tools to institutional clients, allowing organizations to open up to 200 trading accounts within one central balance of funds.
Wei Zhou, CFO at Binance, told The Block, "We are seeing an influx of institutional accounts in the space and anticipate institutional demand to pick up substantially in the coming months. One of our key focuses is to provide a platform that services the needs of these clients as well as our retail users."
In July, Binance introduced tiered trading-fee discounts to incentivize institutional investors, each level being determined by account holders' 30-day trading volume and Binance Coin (BNB) balance. The eight VIP discounts for corporate users will be calculated on an aggregate basis and will be applied to all sub-accounts. (Source: Binance)