Summary

• Binance has rolled out MirrorX, an innovative settlement solution for institutional investors.
• Developed by institutional custody partner Ceffu, MirrorX caters exclusively to Binance VIP and institutional clients.
• MirrorX allows assets to be "mirrored" from Ceffu to a dedicated sub-account on Binance, maintaining a 1:1 ratio.
• MirrorX benefits include real-time asset delegation, auto-settlements off-exchange at T+1, free of charge, and the flexibility to withdraw mirrored assets at will.

In a bid to enhance the trading experience for institutional investors, global crypto exchange leader Binance has rolled out MirrorX, an innovative settlement solution. Developed by institutional custody partner Ceffu, MirrorX caters exclusively to Binance VIP and institutional clients, granting them access to seamless trading without the necessity of moving their assets from Ceffu’s custody platform.

Functioning as the sole integrated off-exchange settlement mechanism with Binance, MirrorX empowers corporate clients to securely connect with the world’s largest crypto exchange. The solution allows assets to be "mirrored" from Ceffu to a dedicated sub-account on Binance, maintaining a 1:1 ratio. These mirrored assets are safeguarded within Ceffu’s omnibus account and managed by a 3rd-Party Custodian sub-account on Binance.

Once credited to the sub-account, clients can utilize these assets across various offerings in the Binance ecosystem, such as Spot, Margin, and Futures trading. This strategic arrangement not only bolsters security but also ensures that the assets are held independently by Ceffu's custody while in use on MirrorX.

MirrorX Benefits

The benefits of MirrorX are multi-fold. Clients enjoy real-time asset delegation, facilitated by auto-settlements off-exchange at T+1, free of charge. Additionally, this solution empowers clients with the flexibility to withdraw mirrored assets at will, while safeguarding their holdings through third-party custody.

Catherine Chen, Head of VIP & Institutional at Binance, stated:

"Our partnership with Ceffu adds an extra layer of risk management that allows our clients to diversify their exposure while still maintaining access to our liquidity. This positions us at the forefront of institutionalizing the digital asset ecosystem."