Binance announced that it rolls out a white-label service designed to help traditional financial institutions launch crypto-trading platforms without building the infrastructure itself.
The range, branded as Crypto-A-A-Service (CAAS), offers banks, brokers and other regulated companies access to Binance’s place and futures markets, liquidity pools, detention solutions and compliance tools.
Institutions keep control of the interfaces and branding of their customer, while they depend on the Backend systems of Binance to reduce development costs and the regulatory risk.
Plug-and-play for settings
Caas deals with the entire spectrum of crypto trading activities, including settlement, monitoring and customer management.
Institutions can match internal orders, a function with which they can maximize income and at the same time use the global order books of Binance to guarantee liquidity and efficient implementation.
The package also contains a customized management dashboard for institutional supervision.
\ The functions are vary from client onboarding and sub-account management to adjustable reimbursement structures and compliance apis such as know-your-customer and transaction monitoring.
Early Access -Expansion
According to the stock exchange, early access to Caas will start on 30 September, limited to a select group of recognized banks, fairs and brokers that meet the criteria of suitability.
It added that the general availability will be rolled out later in the fourth quarter.
The launch comes when traditional financial players weigh how they can enter the fast-growing digital assets market without harming the costs and complexity of building crypto systems in-house.
Binance said that the turnkey solution will serve as a bridge between older financial infrastructure and the growing crypto economy.