• Binance cryptocurrency exchange has launched its off-exchange settlement solution, Binance Mirror, for institutional investors.
• 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’s leading digital asset exchange on daily traded volume and global regulations, has announced the launch of its off-exchange settlement solution for institutional investors, Binance Mirror. This solution has been designed to provide investors with a secure alternative to trade digital assets and a 1:1 balance on the exchange and the cold storage.
During the fourth quarter of 2022, Binance saw a huge influx of institutional investors interested in digital assets. This was a clear indication that the market for digital assets was maturing, and Binance wanted to offer them a secure way to get involved. As such, the company developed the Binance Mirror solution, which features a 1:1 balance on the exchange and the cold storage.
With Binance Mirror, institutional investors are able to tokenize their assets, which helps to reduce the risk of theft of underlying digital assets. The tokenization also makes it easier for institutions to redeem their positions at any time. Additionally, Binance Mirror has a built-in security system, with strict access control and multiple layers of authentication.
Binance has also taken steps to ensure that institutional investors are well-protected when using Binance Mirror. The platform has implemented a risk management system to monitor and protect user funds, with daily and weekly risk checks in place. Furthermore, Binance has put in place a comprehensive suite of risk management tools, including liquidity monitoring, capital adequacy and stress testing.
By launching Binance Mirror, Binance is providing institutional investors with a secure, innovative and reliable way to get involved in digital assets. With its comprehensive suite of risk management tools, tokenization of assets and strict access control, Binance Mirror is the perfect solution for institutions looking to get involved in digital asset trading.