Binance is easily the largest crypto exchange in the entire world, and their actions have been crucial to the crypto industry. They’ve made innovations to accommodate the different needs of investors, leading them now to a new option for a sub-account. This decision primarily was implemented to support institutional investors.

The annoucement was relayed by The Block, after being reported in a press release on the Binance website. The new feature allows entities to maintain multiple trading accounts in their organization, though control access and other tools are provided with the accounts. On the decision to offer this type of account, CFO Wei Zhou told The Block,

“We are seeing an influx of institutional accounts in the space and anticipate institutional demand to pick up substantially in the coming months. One of our key focuses is to provide a platform that services the needs of these clients as well as our retail users.”

With these new accounts, users will get access to:

  • A single Master account that supports up to 200 sub-accounts
  • An overview that shows activity and account information for each sub-account, detailing asset management, login history, and more.
  • No fees for transfers that occur between the sub-accounts
  • Control over the sub-accounts, including passwords
  • Discounts for higher tiers of accounts
  • API limits on each sub-account for better freedom

Presently, the sub-account option is being marketed to “corporate users and individuals with VIP 3 tier (or higher) accounts only.” The concept of tiered trading-fee discounts was originally introduced by Binance in July. The amount of the incentive was determined by the balance of Binance Coins (BNB) on their account.

Along with this change, Binance recently informed their users that they are delaying the addition of USD trading pairs with BTC, BNB, and ETH. The delay was announced by press release and on Twitter. The Twitter post read, “UPDATE: Due to technical reasons, we will delay the listing of BNB/TUSD, BTC/TUSD, ETH/TUSD trading pairs to a later date. As such, we will keep the TUSD/BNB, TUSD/BTC, TUSD/ETH trading pairs listed until this date.”

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