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Binance Custody is renamed Ceffu
The world's leading cryptocurrency exchange Binance is now renaming its custody department to Ceffu. If the name sounds familiar, that's because it's inspired by the popular Secure Asset Fund for Users (SAFU). According to the official press release, the move is intended to underline the company's commitment to putting the security of its customers' assets at the forefront of its solutions. Binance Custody becomes Ceffu The move also includes a transition from the existing domain for Binance Custody to a new one. It is worth noting that Binance Custody was once launched as a dedicated and standalone custody platform with the aim of addressing the security challenges with…
Binance Custody is renamed Ceffu
The world's leading cryptocurrency exchange Binance is now renaming its custody department to Ceffu. If the name sounds familiar, that's because it's inspired by the popular Secure Asset Fund for Users (SAFU).
According to the official press release, the move is intended to underline the company's commitment to putting the security of its customers' assets at the forefront of its solutions.
Binance Custody becomes Ceffu
The move also includes a transition from the existing Binance Custody domain to a new one.
It is worth noting that Binance Custody was once launched as a dedicated and standalone custody platform with the aim of addressing the security challenges faced by institutions.
The publication further states that:
While we remain committed to the ecosystem as Binance's custody partner, this rebrand represents an important milestone in our company's evolution to continue offering standalone solutions, including segregated cold storage, native staking and escrow services.
As part of this rebranding, there will be no changes to the terms and conditions of our services or to the solutions already provided to our customers.
Institutional custody and roadmap for 2023
AsCryptoPotatoAs reported back in January, Binance Custody aims to enable institutions to invest and trade using cold cryptocurrency storage as a safer alternative.
At that time the stock exchange listed:
Security is a top priority for institutions who also want the deep liquidity that Binance Exchange offers. Binance Mirror brings the best of both worlds. We have spent much of the last year refining its operations to help our customers unlock the liquidity of their assets held in our cold storage. We are very excited about where we are today and can't wait to unveil our upcoming new features that will further improve the functionality of Binance Mirror. – Said Athena Yu, Vice President of Binance Custody.
Despite the turmoil in the industry, Binance seems unfazed and even expressed plans to increase its headcount by up to 30% over the course of 2023.
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