• Binance announced the launch of its off-exchange settlement solution for institutional investors, Binance Mirror.
• Binance Mirror accounts will feature a 1:1 balance on the exchange and the cold storage.
• The tokenization of institutional assets will help reduce theft of underlying digital assets.
Binance, the world-leading digital asset exchange, has announced the launch of its off-exchange settlement solution for institutional investors, Binance Mirror. This new initiative is designed to provide a secure environment for institutions to trade digital assets with greater ease.
The launch of Binance Mirror comes amid growing interest in digital assets from institutional investors, with more than 60 percent of all assets secured on Binance Custody. This makes Binance Mirror an attractive option for institutions looking to invest in digital assets.
The new service provides a 1:1 balance on the exchange and the cold storage, meaning assets stored in the Binance Mirror account will be securely held in a cold storage environment. This offers greater security for institutional investors, who can rest assured that their digital assets are safe from theft or loss.
In addition, the tokenization of institutional assets through Binance Mirror helps reduce the risk of theft of underlying digital assets. This is because customers can redeem their positions at any time, allowing them to recover any lost funds.
Binance CEO Changpeng Zhao commented on the launch of Binance Mirror, saying, “We are delighted to announce the launch of Binance Mirror, an off-exchange settlement solution for institutional investors. This offering provides greater security and flexibility for our institutional customers, who can trade digital assets with greater ease. We look forward to continuing to innovate and support the institutional market.”
Binance Mirror is an important step in the company’s efforts to make digital asset trading easier and more secure for institutional investors. The launch of Binance Mirror is a testament to Binance’s commitment to innovation and providing the best services for its customers.