Binance introduced a solution for over-the-counter payments
Date: 2023-08-28 Author: Karina Ziganova Categories: BLOCKCHAIN
Cryptocurrency exchange Binance has launched a feature called MirrorX, an over-the-counter settlement solution for VIP clients. This is stated in the message of the platform.
MirrorX will provide corporate clients of the crypto exchange with a secure cryptocurrency gateway without the need to move their assets from the Ceffu custodial platform. Moreover, institutional and VIP clients of the exchange will be able to store their assets in Ceffu, which will be reflected in the Binance account at a ratio of 1:1.
“Once the assets are credited to the sub-account, customers will be able to use them to access most of the products available in the Binance ecosystem, including spot, margin and futures trading,” Binance explained.
To access MirrorX, users must contact their regional Key Account Representative. Users without VIP or institutional status will not be able to use this feature. Customers who already have an account with Ceffu need to create a new Binance sub-account.
The main advantages of MirrorX
Binance claims that the new feature will provide instant delegation of assets between Ceffu and the crypto exchange. In addition, all MirrorX positions are automatically settled over the OTC period free of charge.
“MirrorX allows our VIP and institutional clients to minimize the risks associated with assets while continuing to benefit from the excellent liquidity that Binance offers,” the crypto platform team added.
Binance Futures Copy Trading
A week earlier, Binance introduced a copy trading feature to Binance Futures. According to the platform team, as part of the first stage of the launch, from August 22, the function of placing orders will be available.
In the near future, Binance promises to introduce new trading strategies for users. Traders will be able to receive discounts on commissions and exclusive rewards for completing copy trading trades.
