Binance Introduces Binance Mirror
Cryptocurrency exchange Binance has introduced a new service called ‘Binance Mirror’. The service is based on Binance Custody and allows institutional investors to invest and trade using cold custody.
Secure Cold Custody Solution for Institutional Investors
With the launch of Binance Mirror, Binance aims to improve its institutional trading services. Institutional investors are increasingly concerned about the safety of their assets, and Binance Mirror provides a secure solution. The new service allows traders access to the exchange ecosystem without having to directly place collateral on the platform.
Built on Binance Custody
Binance Mirror is built on Binance Custody, a custodian platform with its own cold storage solutions that protect against physical loss, damage, theft, or internal conspiracy. Binance Mirror is a new product of Binance Custody, which is responsible for more than 60% of all assets stored on Binance Custody.
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Cold Custody for Institutional Investors
Binance Mirror enables institutional investors to invest and trade using cold custody. Binance Custody is a custodian platform with its own cold storage solutions that protect against physical loss, damage and theft. It is currently unclear if Binance plans to offer similar cold custody services to retail investors.
What is Binance Mirror?
Binance Mirror is a new service from crypto exchange Binance that offers institutional investors a secure solution for cold custody of their assets. Based on Binance Custody, the platform allows traders to access the exchange ecosystem without having to place collateral directly on the platform.
How is Binance Mirror different from Binance Custody?
Binance Mirror is a new product built on top of Binance Custody, which is responsible for over 60% of all assets stored on the platform. Binance Mirror specifically focuses on providing a secure cold custody solution for institutional investors.
What security measures does Binance Mirror have in place to protect assets?
Binance Mirror is built on Binance Custody which offers its own cold-storage solutions to protect against physical loss, damage, theft, or internal conspiracy. Additionally, it offers transparent monitoring and reporting, as well as compliance with regulatory requirements to ensure the security of assets.