The Binance statement states that the new product will allow managing crypto funds to combine user assets into omnibus accounts, and the management of investment portfolios will also simplify the operational efficiency of funds.
Fund Accounts will allow the managers to create several accounts for different trading strategies. It is expected that this will reduce administrative costs, will allow a transparent calculation of the value of net assets, and also provide access to the API and other tools of the ecosystem of the crypto -tank.
“Fund Accounts allows managing funds to work with crypto acards as effective as with traditional tools. We see the future of institutional management in this, ”the Binance announcement notes.
To launch the new functionality, managing funds must be registered and compliance Binance verification. It is expected that the new decision can attract hedge funds and managers who previously avoided investment in digital assets due to the complexity of administration of a large number of crypto-estimates of users.
Earlier, the exchange administration announced the tightening of the requirements for crypto traders from South Africa from April 30. Binance intends to demand from them additional information about the sender and recipient when making deposits and output of cryptocurrencies.
Source: Bits
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