Binance is targeting traditional asset traders with its new VIP program
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Crypto exchange Binance today announced the expansion of its VIP invite program, specifically targeting new users who actively trade traditional assets or crypto on other platforms. The initiative is designed to facilitate the transition of these traders to Binance's ecosystem by consolidating their trading volumes with up to two foreign trading venues, including both spot and futures trading in crypto and traditional assets.
This is a move to attract traditional asset traders and marks the first time a major crypto exchange has developed such a program, inviting people who meet certain 30-day total trading requirements to join the Binance VIP program.
Catherine Chen, Head of Binance VIP and Institutional, commented that the exchange is committed to bringing “the best-in-class experience to high-volume and sophisticated users.”
“The successful list of Bitcoin spot ETFs and their income funds shows that there is clear market demand and that the gap between traditional and digital assets is closing. Our global VIP and institutional team of TradFi and crypto specialists are ready to meet the needs of VIP users and provide white glove and end-to-end services.” They have the ability to provide services, Chen added.
Eligible participants will receive a one-level VIP upgrade beyond their current qualification based on foreign trade volume for a period of two months for additional VIP status upgrades and benefits upon meeting the criteria.
The Binance VIP program offers traders cheap fees, discounts, customized trading solutions and private industry events and campaigns.
Moreover, in a move to align more with traditional financial market operations, Binance last November launched a banking trilateral arrangement to enhance risk management for institutional investors, allowing them to secure trade collateral with a third-party banking partner. Interested parties can check Binance's latest initiatives on its official website.
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