In partnership with Binance and Ceffu, the exchange announced that Binance VIP and institutional customers now have exclusive access to MirrorX, the new off-exchange settlement solution from Ceffu, in response to the growing demand for cutting-edge and secure enterprise tools.
Binance and Ceffu Partner to Offer Exchange Users the Benefits of MirrorX
MirrorX is the first off-exchange settlement solution integrated with Binance. MirrorX offers corporate clients secure access to Binance, the largest cryptocurrency exchange in terms of volume, without requiring them to transfer their assets away from Ceffu’s custody platform. Binance VIP and institutional customers can use MirrorX to instantly “mirror” their digital assets at a 1:1 ratio to a selected sub-account on Binance after storing them in Ceffu’s third-party crypto custody.
The majority of the products offered in the Binance ecosystem, including Spot, Margin, and Futures trading, can be accessed by clients using the mirrored assets once they have been credited to their sub-account. This relationship ensures that when VIP and Institutional clients utilize Ceffu’s MirrorX, their assets remain separated and in Ceffu’s independent custody, adding an additional layer of security and convenience.
Benefits of MirrorX
MirrorX has many benefits for users.
We’re constantly listening to our clients’ feedback and to the market needs that we can support. Binance is already hugely attractive to institutional investors by offering the world’s deepest liquidity and market-leading trading solutions, and through our partnership with Ceffu, we bring an added layer of risk management that allows our clients to diversify their exposure while still maintaining access to our liquidity. This positions us at the forefront of institutionalizing the digital asset ecosystem.
Catherine Chen, Head of VIP & Institutional, Binance
Immediate Asset Delegation
Any size of a request to mirror digital assets from Ceffu to Binance is instantly reflected on the client’s specified 3rd-Party Custodian sub-account on Binance, guaranteeing the funds are immediately accessible.
Auto-settlements
At T+1, every position on MirrorX is instantly and cost-free settled off-exchange. It should be noted that any movement out of the sub-account for the third-party custodian will immediately result in a settlement.
Withdrawal of Delegated Assets
By moving funds from their 3rd-Party Custodian sub-account to their Parent Account, or by undelegating their mirrored funds straight from Ceffu, clients can withdraw all or part of their mirrored assets from their Binance account using MirrorX.
Diversification of Risks
MirrorX enables VIP and institutional clients to limit asset exposure while still taking advantage of Binance’s better liquidity by keeping their funds in independent, third-party custody.
%s Comment