As the leading global cryptocurrency exchange, Binance is committed to ensuring a seamless trading experience for its clients. With the demand for innovative and secure institutional tools continuing to increase, we're excited to announce that our Binance VIP & Institutional clients now have exclusive access to MirrorX, the off-exchange settlement solution recently released by our institutional custody partner, Ceffu.

As the only off-exchange settlement solution integrated with Binance, MirrorX provides our corporate clients with a secure gateway to the world’s largest cryptocurrency exchange by volume without the need to move their assets from Ceffu’s custody platform.

What is MirrorX?

MirrorX allows Binance VIP & Institutional clients to store their digital assets in Ceffu’s third-party crypto custody and “mirror” them instantaneously to a designated sub-account on Binance at a 1:1 ratio. 

Assets mirrored from Ceffu to Binance are “locked” in Ceffu’s omnibus account and delegated to a 3rd-Party Custodian sub-account on Binance (custodized by Ceffu), which clients can then use to access most of the products available in the Binance ecosystem (Source: Ceffu)

Once the mirrored assets are credited to their sub-account, clients can use them to access most of the products available in the Binance ecosystem, including Spot, Margin and Futures trading. This arrangement provides our VIP & Institutional clients with an added layer of security and convenience by ensuring their assets remain segregated and in the independent custody of Ceffu when they use Ceffu’s MirrorX.

It’s important to note that:

• Binance VIP & Institutional clients must also open an account with Ceffu and complete its KYB verification process to begin using the service.

• Clients who already have an account with Ceffu will need to create a new Binance sub-account, called “3rd-Party Custodian,” which will be used specifically for MirrorX.

• At this time, Ceffu is only accepting applications from corporate customers.

To use MirrorX, Binance VIP & Institutional clients will need to create a new sub-account wallet, called “3rd-Party Custodian,” directly on the Binance platform in order to receive their delegated assets.

What are the benefits of MirrorX?

Instantaneous asset delegation

A request of any size to mirror digital assets from Ceffu to Binance is instantaneously reflected on the client’s designated 3rd-Party Custodian sub-account on Binance, seamlessly ensuring the funds’ immediate availability.

Auto-settlements

All MirrorX positions are automatically settled off-exchange at T+1, free of charge. Note that any transfer out of the 3rd-Party Custodian sub-account will automatically trigger a settlement.

Delegated asset withdrawal

With MirrorX, clients can withdraw part or the entirety of their mirrored assets from their Binance account by transferring assets from their 3rd-Party Custodian sub-account to their Parent Account, or directly from Ceffu by undelegating their mirrored funds.

Risk diversification

By keeping their assets in independent, third-party custody, MirrorX allows our VIP & Institutional clients to minimize asset exposure while continuing to benefit from the superior liquidity that Binance offers.

“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

Getting started with MirrorX

To learn more about MirrorX or to request a demo, please contact your designated regional key account coverage. If you are not yet a Binance VIP & Institutional client and would like to inquire about our program, please refer to How to Become a Binance VIP.

Disclaimer

Content from Ceffu is presented to you on an "as is" basis for general information purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. Unless otherwise stated, Binance is not responsible for the provision of any services offered by Ceffu and is not liable for any losses you may incur from using the Ceffu services. For more information, please refer to Binance’s Terms of Use and Risk Warning and Ceffu’s Terms of Use.