Binance Rolls out VIP and institution-focused platform which comes at a time when the institutions are panicking over the recent market collapse so let’s read more today in our Binance news.

Binance rolls out VIP paltform for institutional users and with it, the exchange giant aims to upgrade the institutional offerings and services. The entities Binance will target with this latest offering include asset managers, brokers, corporates, family offices as well as proprietary trading companies miners, and liquditiy providers.

According to the official blog post, Binance Institutional will offer execution and OTC services, broker program, liqudity program, and asset management. It also plans to provide institutional-grade products like tradign, yield products, and data and reporting. Amid the market collapse, Binance managed to stay afloat with the cost-cutting efforts which is a much different picture compared to the one coinbase painted. Binance signed an exclusive NFT partnership deal with soccer legend Cristiano Ronaldo recently and the exchange is also eyeing global expansion despite intense scrutiny.

The founder of the exchange mentioned the possibility to move back to South Korea after two years of closing down the Korean branch. Last month, Binance scored regulatory approval from Italy’s Organisimo Agenti e Mediatori to operate as a crypto service provider in the country. France’s AMF also gave approval to Binance to operate as a registered Digital Asset Service Provider.

As recently reported, Binance CZ denied providing a credit line and stated that his exchange was not the main trading venue for the faltering hedge fund 3AC and didn’t extend any lines of credit to fund the bailout. The South China Morning post which many troubled companies approached with similar requests for loans and CZ didn’t elaborate quite at the time.

Most troubled companies approached Binance in the past few weeks and claimed to be in the third category. This forced Binance to examine them all and start making nuanced decisions for each but there’s also some subjectiveness to it. The CEO tackled the topic of leverage whereby companies take out loans by using crypto as a collateral and order to multiply their position. Leverage was central to the June market meltdown as multiple lending companies saw their risky loans positions in liquidation while the crypto collateral tanked in value.