{"id":16537,"date":"2023-01-16T23:27:00","date_gmt":"2023-01-16T23:27:00","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/binance-launches-off-exchange-settlement-solution-binance-mirror-for-institutional-clients-bitcoin-news\/"},"modified":"2023-01-16T23:27:00","modified_gmt":"2023-01-16T23:27:00","slug":"binance-launches-off-exchange-settlement-solution-binance-mirror-for-institutional-clients-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/binance-launches-off-exchange-settlement-solution-binance-mirror-for-institutional-clients-bitcoin-news\/","title":{"rendered":"Binance Launches Off-Exchange Settlement Solution \u2018Binance Mirror\u2019 for Institutional Clients \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The largest crypto-asset exchange by global trade volume, Binance, announced that its custody business has launched an off-exchange settlement solution for institutional clients. With this solution, institutions can lock a specified amount of crypto with a qualified cold storage wallet, and assets will be mirrored on their Binance exchange account with a 1:1 balance.<\/strong><\/p>\n

Binance Mirror Allows Institutional Investors Access to Liquidity via Assets Held in Cold Storage<\/h2>\n

On Monday, Binance announced<\/a> the launch of an off-exchange settlement solution called \u201cBinance Mirror.\u201d Essentially, institutional investors can lock collateral by connecting their qualified cold wallet<\/a> with Binance Custody. The assets can then be mirrored on their Binance exchange account.<\/p>\n

Binance notes that assets in the cold storage will be kept safe as long as the mirror position remains open on the Binance exchange, which can be settled at any time. The crypto exchange also detailed that assets held in Binance Mirror \u201caccount for more than 60% of all assets secured on Binance Custody.\u201d The exchange said Binance Mirror experienced significant growth during the final quarter of 2022.<\/p>\n

By using the mirror service, institutional investors have access to the range of products on the Binance exchange, as well as \u201cinstitutional VIP Loans.\u201d Athena Yu, the vice president of Binance Custody, explained that institutions are looking for top-notch security but also \u201cthe deep liquidity that the Binance Exchange offers.\u201d<\/p>\n

\u201cWe spent much of last year refining its operations to help our clients unlock the liquidity of their assets held in our cold storage,\u201d the Binance Custody VP said in a statement on Monday. \u201cWe\u2019re very excited about where we are today and can\u2019t wait to introduce our upcoming new features that will elevate Binance Mirror\u2019s functionality even further.\u201d<\/p>\n

The launch of Binance Mirror follows the exchange gaining authorization<\/a> in seven European Union countries. At the start of 2023, the company also recently joined<\/a> an association of certified sanctions specialists. Binance\u2019s custody subsidiary, Binance Custody, was launched in December 2021 and offers segregated accounts and wallet systems.<\/p>\n

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1:1<\/a>, Account<\/a>, Athena Yu<\/a>, Balance<\/a>, Binance<\/a>, Binance Custody<\/a>, Binance Exchange<\/a>, Binance Mirror<\/a>, business<\/a>, Clients<\/a>, cold<\/a>, collateral<\/a>, Crypto asset<\/a>, custody<\/a>, Exchange<\/a>, Global<\/a>, growth<\/a>, institutional<\/a>, institutional VIP Loans<\/a>, Liquidity<\/a>, lock<\/a>, mirrored<\/a>, off-exchange<\/a>, products<\/a>, qualified<\/a>, Security<\/a>, Settlement<\/a>, solution<\/a>, Storage<\/a>, trade<\/a>, volume<\/a>, Wallet<\/a><\/div>\n<\/div>\n

What are your thoughts on Binance\u2019s new off-exchange settlement solution, Binance Mirror? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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