Binance integrates MirrorX OTC solution for institutional clients

Binance integrated MirrorX solution for OTC-settlements, launched by the partner custodian Ceffu.

The initiative aims to meet the needs of VIP and institutional clients for an off-platform digital asset custody service when executing trades.

MirrorX provides secure access to Binance without the need to move crypto assets from the Ceffu custody platform.

Settlements are conducted on a T+1 basis.

The solution enables clients to instantly mirror digital assets to a 1:1 basis on a sub-account on the exchange, under a custodian sub-account on the trading venue operated by the partner.

The agreement provides VIP and institutional clients with guarantees that their assets remain segregated.

Earlier, 88% of Binance institutional users positively assessed the long-term prospects for cryptocurrencies.

Earlier in May, the exchange launched the Capital Connect service to facilitate connections between its VIP clients and investment fund managers.