Binance Supercharges Account Management in Major UX Overhaul
Binance just rolled out its most comprehensive account management update yet—cutting friction for 120M+ users while Wall Street still struggles with two-factor authentication.
New features include unified portfolio views, cross-margin collateralization, and one-click tax reporting. Traders can now bypass 3 separate dashboards to track spot, futures, and earn balances.
The update drops as competitors face regulatory heat. ’Unlike legacy finance where ’innovation’ means repackaging 2008 products, we’re building for the next billion crypto users,’ said a Binance spokesperson—presumably while sipping a BNB-branded latte at ATH prices.
Structure of the Designated Accounts Program
The new program by Binance operates on two tiers. The first tier, dubbed Tier 1 (Comprehensive Designated Accounts), includes accounts with at least a 25% shared ownership belonging to the same ultimate beneficial owner (UBO). The second tier, Tier 2 (Super Designated Accounts), merges accounts either under the complete control of the same UBO or accounts managed by the same investment manager.
To participate, Binance requires documents such as company registrations, membership ledgers, investment management agreements, and authorization documents. These documents help verify the linkage of account groups, ensuring their eligibility for program benefits. Notably, Tier 2 users can benefit from volume advantages in liquidity provision programs.
Enhanced Benefits
A key highlight of the program is that Tier 2 accounts can access lower Maker fees through consolidated volumes in liquidity provider transactions. All participants can also share VIP levels, optimizing their transaction costs.
Applications for the program can be submitted via Binance’s sales team or key account managers. Institutional clients can start benefiting immediately after demonstrating their eligibility by submitting the required documents. With this initiative, the cryptocurrency exchange aims to provide operational ease, particularly for fund managers and institutional investors.
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