TL;DR
- Binance adds a new cross-asset margin product to its ecosystem
- New program will make active trading a smoother experience
Binance has just announced the latest addition to its ecosystem, Portfolio Margin Program, designed for active cross-asset traders and hedgers. The program will optimize risk management and leverage the capital efficiency of multiple trading products.
#Binance introduces the Portfolio Margin Program!
More details here ➡️ https://t.co/UGS0ro6fCu pic.twitter.com/o7UogvxUzL
— Binance (@binance) April 20, 2022
High-frequency traders will gain single effective collateral from all their assets and positions in specified margin accounts on Binance. The portfolio margin program broadens the trader’s margin scope by going beyond the Multi-Asset Mode and including margin wallets and Coin-margined contracts.
How does it work?
The Portfolio Margin Program will only be available to Binance VIP users who have to meet certain requirements. Users must have attained the VIP 7-9 level on Binance and have a combined wallet balance of over 100BUSD. They will then have to apply for the program and deposit the required collateral before they can start using the tool.
Traders are going to love that the Portfolio Margin Program gets rid of the initial margin check requirement. Now, there will be less need for margin checks when placing active orders.
The program currently supports over 200 crypto assets, and users can consolidate their assets across different wallets for effective margin.
Binance ecosystem spearheading mass adoption
The Binance ecosystem is one of the world’s largest, with multiple products designed for easier navigation in the crypto world. The ecosystem’s exchange is by far the largest in the world by market trading volume, totalling more than $24 billion.
Binance is well-known for its user-friendly products. The company recently added the former Agoda VP of Product, Mayur Kamat, as the Head of Product. Kamat’s new role entails guiding the team in building products that work towards crypto mass adoption and lowering the barrier to entry in Web 3.0 technology.
