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

For those not yet in the know, 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

What does it mean to be able to store 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. 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.”—Athena Yu, VP of Binance Custody

Security on Binance Custody

Platform security is paramount, and Binance Custody makes it easy for institutional users to safely store their digital assets. With this integration, Binance Custody allows investors to not only store their $NEAR tokens securely but also benefit from liquidity opportunities thanks to the custodian’s integration with the vast Binance ecosystem, which includes the world’s largest crypto exchange by trading volume.

“A core mission for NEAR is building an ecosystem of diverse communities. With this partnership, NEAR can welcome to the NEAR ecosystem the many financial institutions that have turned to Binance Custody as their trusted provider for digital assets custody and settlement solutions.”— NEAR Foundation CEO Marieke Flament

Binance Custody offers a growing suite of solutions currently including:

• 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.

ABOUT Binance Custody

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

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ABOUT Near Protocol

NEAR is a carbon-neutral layer-1 blockchain network that is scalable and secured. Thanks to its unique implementation of sharding called Nightshade. NEAR is built with a focus on usability and ease of use, for both developers and users.

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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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Binance Custody provides advanced cold and hot storage security and liquidity solutions that allow institutions to conveniently and safely handle digital assets.

Scallop will liaise with Binance Custody to use its highly secure cold storage service. The integration will ramp up the existing security of users’ assets. The new integration enables direct support for the $SCLP token via Binance Custody meaning that SCLP tokens will now be supported and stored in the institutional and insured cold storage facility.

“We are excited about our long-term partnership. “We’ll be leveraging Binance Custody’s capabilities in digital asset security and institutional services to bring our cutting-edge, industry-shaping products to millions of users across the UK and Europe and help them manage their finances securely.”—  Scallop CEO Raj Bagadi.

With a focus on security and insurance coverage, Binance Custody employs industry-leading secure MPC (Multi-Party Computing). Threshold signing techniques, and offline key-sharing storage, are critical components in facilitating the protection of users’ digital assets.

Transferring digital asset ownership to Binance Custody includes increased security from hackers, and malicious elements, and a delegation of authority. Users may avoid asset loss in the event of lost crypto inheritance, private passwords, or any other type of data loss or hack by sharing access with the custodian and delegating this permission.

ABOUT Binance Custody

Binance Custody is a compliant, insured, standalone digital asset custody service providing best-in-class security and liquidity solutions to institutional clients. It uses MPC technology with a customizable multi-approval scheme offering bespoke solutions that allow institutions to manage their crypto assets safely and efficiently via the Binance Custody desktop and mobile app platforms. Its core technology solution is ISO 27001/27701 and SOC 2 Type 1 certified.

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ABOUT Scallop 

Scallop Chain is a Byzantine Fault Tolerance blockchain. It has a core Know-Your-Customer (KYC) and Anti-Money Laundering (AML) module. Included in the consensus mechanism at the protocol level. Its regulated, licensed, interoperable infrastructure provides a suite of banking products. It includes unified global bank accounts with digital wallets, crypto cards, a centralized exchange, and DeFi earn accounts, among others, to empower millions of retail and business customers around the world.

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Binance Custody is a fully regulates and compliant virtual asset custody platform. On top of securing funds to the highest possible standard, Binance Custody provides Liquidity solutions to institutional clients through Cold Convert, Binance Mirror, and Share Wallet. By partnering with Binance Custody, DAO Maker has access to world-class security and digital asset management technology.

“DAO Maker is honored to be onboarded on Binance Custody services. Binance has always pioneered the crypto industry so we’re happy to be part of this journey with them. We strongly believe that this onboard will bring the security and management of our token to the best standard.”—Chris Zaknun, CEO of DAO Maker

DAO Maker aims to redefine Venture capital by making it accessible to the masses. We are on our way to achieving that with more than 170.000 users KYC’d and users spread around 158 different countries. DAO Maker has consistently onboarded market-leading projects onto the platform — such as Alice, Step App, or XCAD — setting trends in every market condition.

In addition, Binance Custody believes that cryptocurrency investors should have peace of mind when investing in the digital asset space. We believe that security will serve as the foundation for the mass adoption of cryptocurrencies. Binance Custody offers a secure and robust institutional-grade cryptocurrency custody platform that is both regulates and compliant.

ABOUT DAO Maker

DAO Maker is the leading incubation, fundraising, and acceleration platform with a vast network of successful projects launched. Their clients benefit from their experience and expertise, while users of the platform enjoy attractive Venture Yield rewards and participate in regular Strong Holder Offerings.

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ABOUT Binance Custody

Binance Custody is fully regulated, insured, and seamlessly integrated into the Binance ecosystem. The digital asset custody service uses multi-party computation (MPC) technology to provide bespoke solutions for clients. With no compromise between world-class security and an easy and efficient user experience, the platform features a customizable multi-approval scheme. Allowing institutions to operate crypto assets systematically, securely, and in a controlled fashion. The core technology of our custodial service is certified with ISO 27001& 27701, the world’s best-known quality management standards in information security and privacy protection.

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From now on, large institutions will be able to securely invest in IOST and use the Binance custody service to deposit IOST tokens safely. This is an essential step for IOST to partner with institutional investors, as the current Binance Custody platform is an institutional-grade virtual asset custody service specially designed to cater to corporate needs with a minimum €1,000,000 asset under custody requirement.

What does Binance Custody provide?

Binance Custody launched its cold storage insurance this year, which protects cryptocurrencies held in cold storage from dangers such as theft, hacks, and even in the event that someone loses a password. Additionally, Binance Custody includes support for approximately 500 different digital assets.

ABOUT BINANCE CUSTODY
Backed by a sophisticated infrastructure that serves as the foundation of its platform, Binance Custody provides secure storage of digital assets through its Qualified Wallet solution. Future product offerings will include easy and convenient transactions from users’ wallets. This service is subsidize by an insurance plan. It also proves the commitment to security. The Binance team is also working towards receiving the ISO27001 certification and SOC 2 report. It also makes the service suitable for institutions seeking peace of mind.

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ABOUT IOST
Backed by major financial and VC firms such as Sequoia, Matrix, and ZhenFund. IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform. It is built to tackle the scalability trilemma once and for all. The concluding ranking from China’s CCID ranked IOST as the best blockchain platform under Basic Technology, better than every other smart-contracting platform evaluated by the agency. This is a testament to the quality and ability of the IOST team. The platform rolls out a better, innovative product. It is reflective of their true desire to be the best in the sphere.

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