Good news for NEAR Protocol users who have just announced their integration with Binance Custody. The latter is compatible with the token NEAR, as well as NEP-141 tokens. Partnering with this institutional-grade secure wallet is an opportunity for NEAR to provide secure custody of NEP-141 tokens. The integration also offers many security and liquidity benefits to token holders.
NEAR announced its integration with Binance Custody
NEAR foundation announced its integration at Binance Custody. It aims to achieve two objectives. For one, the integration will allow NEAR token holders to use a secure storage infrastructure. On the other hand, it aims to make it easier for Binance Custody to support any NEP-141 token in the future. For information, Binance Custody is an independent and compliant custody solution. It provides infrastructure support for over 230 cryptos. It currently has a range of solutions including Qualified Wallet, Prime Wallet, Binance Mirror and Cold Convert.
For Binance Custody Vice President Athena Yu, it is a real pleasure to be part of NEAR’s journey as an Institutional Custody Partner. This partnership will allow NEAR to welcome numerous financial institutions into its ecosystem. These are the customers who have chosen to trust Binance Custody as their crypto custody solutions provider. One of NEAR’s core missions is to build an ecosystem of diverse communities, said NEAR Foundation CEO Marieke Flament.
Several advantages are available to holders of NEP-141 tokens
NEP-141 is a set of rules determining how tokens on NEAR can operate. It is a simple update of the NEP-21 standard, but it is easier for users and developers. It is also cheaper and more efficient. Holding this token thus offers various advantages.
Holders of NEAR tokens benefit from the secure and integrated security and liquidity solutions offered by Binance Custody, said Vice President Athena Yu. of transaction volume. It therefore invites any project based on the NEAR protocol to contact them to help holders to evolve serenely thanks to their institutional infrastructure.
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