Binance to let institutions store crypto with cold custody

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Binance to let institutions store crypto with cold custody
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Binance has officially launched Binance Mirror, an off-exchange settlement solution that enables institutional investors to invest and trade using cold custody.

Amid the crisis of centralized cryptocurrency exchanges , crypto exchange Binance is moving to improve its institutional trading services with cold custody opportunities.on Jan. 16 the official launch of Binance Mirror, an off-exchange settlement solution that enables institutional investors to invest and trade using cold custody.

The newly launched Mirror service is based on Binance Custody, a regulated institutional digital asset custodian, by mirroring cold storage assets through a 1:1 collateral on Binance account. Binance emphasized that the new solution enables more security, allowing traders to access the exchange ecosystem without having to post collateral directly on the platform, stating:

“Their assets remain secure in their segregated cold wallet for as long as their Mirror position remains open on the Binance Exchange, which can be settled at any time.”

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