Binance targets traditional asset traders with its new VIP program
Head of Binance VIP & Institutional points out that there’s demand for crypto, and the gap between traditional and digital assets is closing.
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Crypto exchange Binance unveiled today an expansion of its VIP Invitation Program, specifically targeting new users who actively trade traditional assets or crypto on other platforms. The initiative is designed to facilitate these traders’ transition into Binance’s ecosystem by allowing them to combine their trading volumes from up to two external trading venues, including both spot and futures trades in crypto and traditional assets.
This is a move to attract traditional asset traders and marks the first time a major crypto exchange has tailored a program of this kind, inviting those who meet specific 30-day aggregate trading volume criteria to join the Binance VIP Program.
Catherine Chen, Head of Binance VIP & Institutional, commented that the exchange is committed to bringing “the best-in-class experience for high-volume and sophisticated users.”
“The successful listing of bitcoin spot ETFs and their inflows not only demonstrates that there is clear market demand for cryptocurrencies, it also shows any gap between traditional and digital assets is closing. Our global VIP and Institutional team made up of TradFi and crypto specialists have expertise catering to the needs of VIP users and delivering white-glove and end-to-end service,” Chen adds.
Qualifying participants will automatically receive a one-level VIP upgrade beyond their current eligibility based on external trading volumes for a two-month period, with the potential for further VIP status enhancements and benefits upon fulfilling additional criteria.
The Binance VIP Program offers traders cheaper fees, discounts, tailored trading solutions, and access to private industry events and campaigns.
Moreover, in a move to further align with traditional financial market practices, Binance initiated a banking triparty arrangement last November to enhance risk management for institutional investors, allowing them to maintain their trading collateral in fiat with a third-party banking partner. Interested parties can check Binance’s latest initiative on its official website.
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