Binance Debuts New Platform to Connect Investors with Crypto Fund Managers

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Binance, the world’s largest cryptocurrency exchange, recently unveiled Capital Connect, a platform that connects large investors to crypto investment fund providers. 

Accessible to Binance VIP-Level Clients 

Capital Connect is presently only accessible by Binance VIP-level customers, who include brokers, hedge funds, family offices, and high-net-worth individuals.

According to the crypto exchange, Binance would enable institutional investors seeking investment in the cryptocurrency market to perform in an effective and safe way. It will give data on the assets under management (AUM) of various funds, as well as their performance histories, minimum investment amounts, and other pertinent information. 

Managers Can Check Info About Clients

Investors that are interested can begin communication. Before approving a connection, investment managers can check information about institutional clients who have been contacted. 

Capital Connect automates the process, ensuring that data is kept secret until both parties agree on a link.

Binance KYC Rules to Apply

Catherine Chen, Head of Binance VIP and Institutional gives a statement: “Investors and fund managers continue to encounter network inefficiencies due to a lack in market standards,” she added: 

“With Capital Connect, we can help create information disclosure standards for market participants with different investing and fund-raising needs.”

Despite the fact that Binance will apply institutional Know-Your-Customer (KYC) and Know-Your-Business (KYB) requirements to all potential customers, who also have to meet the VIP level status, the business is not going to participate in conversations or negotiations between investors and fund managers.

Bitcoin Ordinals Coming to the Exchange

The world’s leading cryptocurrency exchange recently announced that it would begin offering Bitcoin Ordinals on its NFT marketplace by the end of May 2023. Binance’s Ordinals inclusion came after an effort of Ordinals registrations led to Bitcoin seeing the highest transactions in its 14-year history on May 1, 2023.

Furthermore, in response to the continuing Bitcoin (BTC) network congestion, the firm recently halted withdrawals on its platform. According to CryptoQuant statistics, a total outflow of 200k has been observed from cryptocurrency exchanges in the previous two days, with 190k from Binance.

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