Binance Custody Launches Binance Mirror

Binance Custody has launched Binance Mirror which will allow institutional investors to use and keep assets off-chain for collateralized leveraged positions.

Using Binance Mirror, institutional investors will be able to access trading and investment products from Binance without having to put assets on the exchange, according to the January 16 announcement. The assets will be locked in cold wallet storage as long as customers keep their position open on Binance.

“Through Binance Mirror, institutions lock a specified amount of their asset balance available in their Qualified Wallet, Binance Custody’s cold storage solution, and mirror it onto their Binance Exchange account with a 1:1 balance,” writes the blog.

Binance Mirror will give institutions added security to the assets they use with Binance and eliminate the vulnerabilities that can occur when keeping assets in hot wallets on chain.

Binance confirmed that assets kept on Binance Mirror “account for more than 60% of all assets currently secured on Binance Custody.” The exchange believes this shows that institutions and users are confident in the new off-chain solution.

“Security is a top priority for institutions, who also desire the deep liquidity that the Binance Exchange offers. Binance Mirror brings the best of both worlds,” added Athena Yu, VP of Binance Custody in the blog. “We spent much of last year refining its operations to help our clients unlock the liquidity of their assets held in our cold storage. We’re very excited about where we are today and can’t wait to introduce our upcoming new features that will elevate Binance Mirror’s functionality even further.”

What is Binance Custody:

Binance Custody is a regulated, compliant, institutional-grade custody infrastructure offering integrated custody solutions that are ISO 27001 & 27701 certified and SOC Type 1 & Type 2 attested. Its multi-party computation (MPC) technology, combined with a customizable multi-approval scheme, provides bespoke solutions allowing institutional clients to safely store and manage their digital assets while also benefiting from its secure gateway to a wide range of liquidity products by way of its connectivity to the Binance ecosystem.

Where to find Binance Custody:

Website | Twitter | Telegram | LinkedIn |

What is Binance:

Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.

Where to find Binance:

Website | Twitter | Discord | Telegram |