NEAR Integrated with Binance Custody

Published on: 09.11.2022
NEAR Integrated with Binance Custody

NEAR Integrated with Binance Custody, enables any institutional user with $NEAR holdings to make use of their highly secure storage infrastructure. 

The integration also makes it easier for Binance Custody to provide future support for any NEP-141 compatible tokens from projects building on NEAR.  As NEAR Integrated with Binance Custody.

NEP-141 is simply a set of rules that determine how tokens on NEAR can operate. It’s an upgrade from the earlier NEP-21 standard by being simpler for users and developers as well as being cheaper and more efficient.

Storing NEAR and NEP-141 compatible tokens on Binance Custody

It means institutional users benefit from an integrated ecosystem built to help them manage their assets with world-class security standards backed by multi-party computation technology. Binance Custody is an independent, compliant, and audited custodial solution that currently supports over 230 digital assets.

“We’re very excited to be part of NEAR’s journey as their institutional custody partner,” said Athena Yu, VP of Binance Custody. “With this integration, $NEAR token holders benefit from our secure, integrated security and liquidity solutions. We welcome any project building on the NEAR protocol to reach out to us to learn how our institutional infrastructure can help them scale with peace of mind.”

Security on Binance Custody

  • Qualified Wallet: institutional-grade cold vault storage
  • Prime Wallet: warm wallet infrastructure offering instantaneous transactions between Binance Custody and the Binance exchange, with sub-accounts.
  • Binance Mirror: matches an institution’s cold storage custody funds with 1:1 availability on their Binance exchange account to access deep liquidity venues.
  • Cold Convert: trade tokens from cold storage with zero counterparty risk and customized slippage tolerance without compromising on security.

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About NEAR Protocol

The NEAR protocol is a sharded, proof-of-stake, layer-one blockchain that is simple to use, secure and scalable.

Website | Twitter 

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About Binance Custody

Binance Custody features sophisticated cold and hot storage security. And liquidity solutions for institutions to manage digital assets easily and securely

Website | Twitter 

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SOURCE: NEAR BLOG
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