Binance now has personalized OTC services for wealthy crypto traders

Binance now offers wealthy traders a "Personalized way" to conduct trades larger than 10 BTC off of the exchange's order books via over-the-counter trading.

According to the company's July 26 blog post, Binance Trading now offers a "Personalized" way for well-bankrolled users to trade "Large block sizes."

Binance Trading offers a personalized way to trade large block sizes quickly & securely.

All transactions made with Binance Trading will be settled "Quickly and seamlessly" into users' Binance accounts.

CryptoSlate reached out to Binance and a spokesperson from Binance Trading elaborated that "Pricing is transparent; we provide an all-in price with no hidden fees, and the trader can choose to take or pass on the trade." And while the exchange didn't provide any further details regarding its fees, the blog post said that automated quoting services are now available for qualifying clients.

Binance Trading will support block trades in most coins listed on the exchange, even trading pairs that are not listed.

Binance is certainly not the first major crypto exchange to enable block trading, but it is the first exchange that introduced OTC trading for bulk orders of all the crypto pairs it has listed.

Despite having one of the largest trade volumes in the crypto industry, Binance isn't immune to price swings caused by huge buy and sell orders.

Offering a personalized and quick way for verified users to make large block trades will help Binance maintain a growing trading volume while maximizing revenues from larger clients.

The introduction of OTC block trading follows a slew of other new features Binance launched in the past couple of months.