Binance Launches Fund Accounts for Crypto Asset Managers to Simplify Operations
Binance has launched “Fund Accounts” for digital asset managers, enabling them to pool investors' assets and streamline crypto fund management. This initiative aims to mimic traditional finance operations through a universal net asset value (NAV) per unit concept, enhancing profit-and-loss tracking.
- Addresses the lack of common standards in crypto asset management
- Seeks to create a more institutional-friendly environment within crypto trading
- Offers eligible asset managers reduced administrative burdens and flexible fund strategies
- Targets managers with assets under management ranging from $1 million to $20 million
- Aims to support smaller and newer asset managers in scaling their businesses
Trust and transparency are crucial for investors, making established brands and clear proof of reserves vital, according to Binance's Catherine Chen.