Binance Expands Despite Bear Market, Launches Platform For Institutional And VIP Investors

Zinger Key Points
  • Binance International will be a trading services platform for high-net-worth investors.
  • While other major crypto firms have cut back on hiring and expenditures, Binance has made a series of bold moves.

Binance BNB/USD, the world’s biggest cryptocurrency exchange by volume traded, is launching a platform for VIPs and institutional large-scale investors.

What Happened: Binance confirmed the launch of Binance Institutional, a platform offered to high-net-worth individuals, institutional investors, hedge funds, and asset managers, providing trading and investing services.

See Also: Binance CEO Changpeng Zhao Denies Giving 3AC A Credit Line Following The Hedge Fund's Insolvency

Binance Institutional offers an array of utilities, constituting the Binance Broker Program to leverage Binance technology for business growth, over-the-counter services, including algorithm-based trading, and other asset management services.

Binance made the announcement via Twitter: "#Binance is launching #BinanceInstitutional, a new flagship platform for VIP and institutional users, in an effort to upgrade its institutional offerings and services."

Why It’s Important: The news comes amidst extremely uncertain market conditions. Bitcoin BTC/USD has fallen from its all-time high of over $68,000 to currently $20,971. Consequently, numerous firms and exchanges have faced structural and technical difficulties, margin calls, and illiquidity. This has caused a major cutback of expenditures by firms.

See Also: Binance.US Announces Bitcoin Trading Now Free Of Fees

Major crypto firms, such as Coinbase, Gemini and, have announced large-scale layoffs and reductions in advertisement budgets. Binance, however, has made a series of bold moves prior to launching Binance Institutional:

  • It's looking to fill 2,000 new positions
  • It nullified trading fees for Binance.US
  • Inked a multi-year partnership with Cristiano Ronaldo

Each effort represents strong capital reserves and preparedness for a market downturn. As macroeconomic uncertainty perpetuates Bitcoin’s bear market, Binance continues to stride forward with power.

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyNewsMarketsBinanceBitcoinHedgefund
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!