Binance have announced that they will be launching new sub-account features, with the aim to bring improved managerial control for institutional account holders.
The ability to have sub-accounts was one of the most requested features on the platform, said Binance. With the move, they are looking to appeal to clients who want to handle multiple trading accounts within a single organisation.
We are thrilled to launch our long-anticipated Sub-Account Feature, bringing improved managerial control to institutional account holders.https://t.co/C82JSaCfw5
— Binance (@binance) December 6, 2018
The main account will have sole control over the movement of assets within all the sub-accounts. It will also have the ability to set permissions and grant different access levels for up to 200 sub-accounts.
Security is also an important aspect of the update, with account login information subdivided “to maximise security and minimise risk”.
A new dashboard panel will give comprehensive balance reporting for all sub-accounts. There will also be new navigational features and filters that include account management, asset management, order management, transfer history, and login history.
If required, sub-accounts can also be frozen/unfrozen.
In the announcement, Binance made a particular reference to institutional account holders. This has been a recent trend for crypto exchanges. Just yesterday, Coin Rivet brought you the story of Poloniex launching dedicated accounts for institutional investors.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.