Cryptocurrency exchange Binance has introduced a new fund management solution designed to simplify asset management for portfolio managers, highlighting the growing sophistication of institutional tools in the digital asset space.
On April 24, Binance launched Fund Accounts, a tool commonly used by traditional asset managers and brokerage firms to consolidate client assets and streamline portfolio management.
Binance said Fund Accounts allow portfolio managers to “consolidate externally-raised investor assets into one or multiple omnibus accounts,” which can reduce operational complexity and enable more efficient trading execution.
Presumably, these omnibus accounts operate under a single custodian who executes trades on behalf of their clients.
The new program is only available to eligible fund managers who must contact their Binance VIP representative for more information.
A Binance spokesperson informed Cointelegraph that f...
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