Binance Crypto Exchange Starts Supporting Sub-Accounts
Binance has announced support of sub-accounts, a feature, which allows the same customer to create multiple accounts, according to the company’s blog.
Organizations or private traders will be able to create up to 200 sub-accounts and manage them from the master account, which is more convenient than registering a new address each time. From the main account, users can view trading activity, manage orders and digital assets on all additional wallets. Also, clients do not have to log into a sub-account to freeze it or change the password, as they can do it from the main account.
Binance set a zero fee on transfers between sub-accounts of the same user as well. The exchange also introduced a discount system that will depend on the aggregated trading volume on additional wallets.
The new feature is available to corporate customers, as well as private users with at least third VIP tier, who passed the verification. The other traders can apply to Binance support and provide a valid reason to be given sub-accounts.
Binance has been paying much attention to stablecoins lately. At the end of November 2018, the platform renamed the market USDT to the combined stablecoin market USDⓈ. Prior to this, a stablecoin USD Coin (USDC) entered exchange’s listing, and a tokenized dollar Paxos Standard (PAX) became available for trading in pairs with six cryptocurrencies.
Previously, the exchange’s head Changpeng Zhao announced the imminent release of the company’s own blockchain Binance Chain.