world’s largest cryptocurrency stock market Binancecontinues to make moves to alleviate concerns caused by the collapse of its once-rival FTX.
For FTXThe crash of November 2022 has cast doubts on the ability of cryptocurrency exchanges to keep users’ assets safe.
BloombergAccording to the news of Binance, institutional investors announced that it will allow them to withdraw collateral for leveraged positions from the platform.
Binance will keep institutional investors’ assets in so-called cold storage or offline wallets. Binance CustodyHe said he would have the option to send collateral to .
He added that once the exchange trading is complete, the assets will be unlocked and become accessible to users again.
Bloomberg also stated that this feature, which will be provided by Binance, will be a great boon for crypto investors trading in leveraged markets.
Because most crypto traders have to keep their collateral on the exchange for trading.
In this context, Bloomberg said that after this move by Binance, users can continue to trade crypto without major exits when the market is volatile, using their cold storage wallets.
Launched by Binance in 2021, Binance Custody is a separate legal entity registered in Lithuania.
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