Cryptocurrency Exchange Binance has introduced a new fund management solution designed to simplify asset management for portfolio managers, featuring the growing sophistication of institutional tools in the digital asset space.
On April 24, Binance launched Fund accounts, a tool commonly used by traditional asset managers and broker companies to combine client assets and streamline management portfolio.
Binance said funding accounts allow portfolio managers to “combine external enlarged investor assets into one or several Omnibus accounts,” which could reduce the complexity of operation and enable better trading implementation.
Presumably, these omnibus accounts operate under a single caretaker who conducts trading on behalf of their clients.
The new program will only be used for the right fund managers that should contact their Binance VIP representative for more information.
A Binance speaker informs Cointelegraph that fund managers and their investors should pass your customer and find out your business requirements and be licensed or excluded from their constituents to use the fund accounts product.
Binance is the largest crypto exchange in the world By trading volume, according to CoinMarketCap data. In December, the exchange updated the requirements for the VIP program, focusing on institutional investors and private clients.
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Tradfi and Crypto continue to combine
Binance’s fund accounts are another example of traditional financial solutions combined with cryptocurrency, which has signed the growing institutional involvement.
After spending the first decade of crypto over the sideways, institutional investors are now entering the space, driven by the launch of funds exchanged by the Bitcoin (ETF) exchange, the Increased tokenization of real-world assetsand attractive -onchain lending opportunities.
Blockchain companies are also working to bring institutional trading solutions to crypto-native users.
On April 24, Onchain Trading Infrastructure Provider announced that it raised $ 20 million in Expand the institutional grade platform aims to deliver retail investors. The seventeen investors participated in the funding of the funding, along with angel investors from Jane Street, JPMorgan and Citadel.
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