Binance is setting up to improve its institutional trading services with cold-custody opportunities.
Binance announced the official launch of Binance Mirror, an off-exchange settlement solution that enables institutional investors to invest and trade using cold custody.
The newly launched Mirror service is based on Binance Custody, a regulated institutional digital asset custodian, and involves mirroring cold-storage assets through 1:1 collateral held on a Binance account.
Binance emphasized that the new solution enables more security, allowing traders to access the exchange ecosystem without having to post collateral directly on the platform.
Launched in 2021, Binance Custody is a custodian platform with its own cold-storage solutions, covering secured assets against physical loss, damage, theft and internal collusion. In March 2022, Binance Custody secured cold-wallet insurance in Lithuania to operate an institutional-grade digital asset custody solution. Mirror accounts for more than 60% of all assets secured on Binance Custody.
