New VIP Investing Platform From Binance

Reaching Out to Customers

Binance announced on Thursday the launch of its new platform, Binance Institutional, catered specifically for VIPs and institutional users with market-leading, customized solutions.

This new offering is targeted at a more advanced group of clients that transact more frequently and at a higher quantum. Binance Institutional offers nine VIP tiers with varying VIP privileges which includes fee discounts and higher 24-hour withdrawal limits. 

Some questions have arisen regarding how the new platform will be implemented on a regulatory and market-equity basis. Edmund Yong, the Managing Partner and Founder of Celebrus Advisory, a leading blockchain advisory firm in Malaysia, raised questions on the new platform.

"It’s a market-friendly move but regulators may ask questions though. Are retail traders going to be disadvantaged? Information asymmetry is already a chronic problem in the crypto industry, and this does not look like a solution,” Yong mused in reference to the news. “Will trading information remain freely available to all users or partly restricted behind a paywall? Will VIPs get preferential access to high-speed direct market data feeds?"

Binance’s move is timely especially after Coinbase recently shut down Coinbase Pro, a platform meant for advanced traders. 

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