Binance Launches Multi-Account Feature for Institutional Crypto Traders

Binance is looking to aid institutional investors with a new sub-account feature.

The Crypto Exchange while making the announcement on Thursday, said these sub-accounts will allow institutions to set up multiple trading accounts for each firm, while noting that different accounts would be given different levels of access and control, with Binance main account in control of every other sub-accounts, granting them the needed permissions to operate.

More so, in addition to the different levels of account types, Binance will allow different sub-accounts to transfer funds with no fees and unique API limits per sub-account, meaning they will be able to trade at a greater capacity than they might otherwise be able to do.

While sub-accounts will be able to oversee their own trades, create and edit their own API keys and place their own orders, the main accounts will be able to view all data, transfer funds between accounts and cancel any and all orders placed.

The new sub-account system will be based on Binance’s existing institutional account structure, with any institutions tagged as Tier 3 or above able to set up these accounts.

A blog post which was published in the past, shows that accounts with a minimum BNB balance of 1,000 and at least 4,500 bitcoin in trading volume over the previous 30 days will be eligible.

Poloniex, another Crypto-exchange also launched its trading services targeted at institutional investors, offering similar API services with Binance, though it did not list any similar sub-account feature.

However, a single institution may have up to 200 sub-accounts, according to the exchange

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