Binance launches VIP Invitation Program to attract traditional asset traders, offering benefits like cheaper fees and tailored solutions. Catherine Chen, Head of Binance VIP & Institutional, highlights the exchange's commitment to high-volume users.
Binance, the renowned cryptocurrency exchange, has announced an expansion of its VIP Invitation Program, with a particular focus on attracting new users who are actively engaged in trading traditional assets or cryptocurrencies on other platforms. This strategic move aims to ease the transition for these traders into Binance’s ecosystem by enabling them to aggregate their trading volumes from up to two external trading venues. These venues encompass both spot and futures trades involving cryptocurrencies as well as traditional assets.
Notably, this initiative marks a significant departure from conventional practices, as it represents the first instance where a major cryptocurrency exchange has customized a program specifically targeting traditional asset traders. Eligible participants, who meet predetermined 30-day aggregate trading volume thresholds, are invited to join the Binance VIP Program.
Catherine Chen, who serves as the Head of Binance VIP & Institutional, emphasized the exchange's dedication to delivering an unparalleled experience for high-volume and sophisticated users.
“The recent success of bitcoin spot ETF listings and the resulting influx of investments underscore not only the growing demand for cryptocurrencies but also the diminishing gap between traditional and digital assets. Our global VIP and Institutional team, comprising experts from both traditional finance (TradFi) and cryptocurrency sectors, possesses the requisite expertise to cater to the unique requirements of VIP users, delivering bespoke services and support,” Chen remarked.
Qualified participants will automatically receive a one-level VIP upgrade beyond their current eligibility for a duration of two months, based on their external trading volumes. Moreover, there is the potential for further enhancements to VIP status and associated benefits upon meeting additional criteria.
The Binance VIP Program offers a range of advantages, including reduced fees, special discounts, personalized trading solutions, and exclusive access to industry events and campaigns.
Furthermore, in a bid to align more closely with traditional financial market practices, Binance introduced a banking triparty arrangement in November last year. This initiative aims to bolster risk management for institutional investors by enabling them to maintain their trading collateral in fiat currencies through a trusted third-party banking partner. For further details, interested parties are encouraged to visit Binance’s official website.