Binance Launches a Solution for Institutional Clients

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Binance has launched the MirrorX OTC settlement solution, provided by its digital asset custody partner Ceffu, to meet the needs of VIP and institutional clients for a non-platform service to securely store digital assets during trading activities.

With MirrorX, customers can instantly have a 1:1 ratio of digital assets “mirrored” to a sub-account on the Exchange, while still being securely “locked” in the shared Ceffu account and delegated to a third-party custodian sub-account on the trading platform, allowing clients to access Binance’s spot, margin, and futures trading products.

The solution is set up to ensure the segregation of customer assets and is executed on a T+1 basis. These measures are in response to survey results of 88% of institutional users stating their belief in a positive long-term outlook for cryptocurrency markets.

In May, Binance had already launched the Capital Connect service to allow their VIP clients to easily reach out to top quality investment fund managers.