As Binance faces increasing competition and regulatory challenges in the crypto space, to expand its user base, the world’s largest cryptocurrency exchange by trading volume has announced the launch of a new VIP program targeting traders from traditional markets.
According to a Bloomberg report, the initiative aims to attract new users by allowing them to apply for VIP status based on their aggregated trading volume of cryptocurrencies and traditional assets from external trading venues.
Binance Targets Traditional Traders With New Program
Per the report, the exchange calls this new play a strategic push to lure traders from traditional markets, many of whom have recently withdrawn from cryptocurrencies due to regulatory uncertainty. Traditionally, Binance required users to achieve a minimum aggregated monthly trading volume of $1 million solely on their platform to qualify for VIP status.
However, under the new program, new users can combine their aggregated monthly t
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