Binance Announces Institutional Aimed Platform

Binance the world's largest cryptocurrency exchange announced, Binance Institutional, a new program aimed at high-net-worth individuals, institutions, crypto platforms, family offices, crypto miners, asset managers, and hedge funds.

The new service aimed at the richest of the rich will offer a variety of features such as asset management services, execution, and over-the-counter (OTC) services–like algorithmic trading and instant crypto pricing, the Binance Broker Program that allows enterprises to utilize Biances own technology for their own business.

On the landing page for the new service, Binance assures prospective clients that it will be practicing top-level regulatory compliance in all jurisdictions available to the program.

The company will also be looking into acquiring SOC 2 and ISO-27001 certifications, which are standards for ensuring trust, security, compliance, and auditing.

This has been a big week for the international exchange with the announcement of the opening of 2,000 new job positions as most of its competitors are looking to downsize. With Gemini cutting 10% of its workforce, and Coinbase slashing 18% of its employees.

On Wednesday, the exchange U.S branch also announced the elimination of trading fees for all Bitcoin pairings. The Binance.US CEO Brian Shroder called the measure: “an opportunity to revolutionize the way fees are approached in our industry, increase accessibility to crypto, and help our market and customers in a time of need.”