Ceffu Officially Launches Its Off-Exchange Settlement Solution, Mirror
Assets in Mirror account for more than 60% of all assets secured on Ceffu
Ceffu, a regulated and compliant institutional digital asset custodian, today announced the official launch of Mirror, its off-exchange settlement solution enabling institutions to access trading and investment products within the Binance Exchange ecosystem without having to post collateral directly on the exchange.
Through Mirror, institutions lock a specified amount of their asset balance available in their Qualified Wallet, Ceffu’s cold storage solution, and mirror it onto their Binance Exchange account with a 1:1 balance. Their assets remain secure in their segregated cold wallet for as long as their Mirror position remains open on the Binance Exchange, which can be settled at any time.
Adoption and use cases for Mirror grew significantly in the last quarter of 2022 with a 67% increase in assets mirrored from Ceffu to the Binance Exchange. In total, assets in Mirror account for more than 60% of all assets currently secured on Ceffu, signaling growing institutional confidence in the custodian’s off-exchange solution.
“Security is a top priority for institutions, who also desire the deep liquidity that the Binance Exchange offers. Mirror brings the best of both worlds,” shares Athena Yu, VP of Ceffu. “We spent much of last year refining its operations to help our clients unlock the liquidity of their assets held in our cold storage. We’re very excited about where we are today and can’t wait to introduce our upcoming new features that will elevate Mirror’s functionality even further.”
Institutions can use their mirrored assets on the Binance Exchange to access a wide range of products, including institutional VIP Loans. This new use case was successfully executed through Mirror while the client’s collateral, required to apply for the loan, remained segregated in their Ceffu Qualified Wallet.
Ceffu was launched in December 2021 as a separate, dedicated custody platform separate from Binance Exchange, with segregated account and wallet systems that address the security and operational challenges faced by institutions participating in the digital asset economy.
Ceffu is a compliant, institutional-grade custody platform offering custody and liquidity solutions that are ISO 27001 & 27701 certified and SOC Type 1 & Type 2 attested. Its multi-party computation (MPC) technology, combined with a customizable multi-approval scheme, provides bespoke solutions allowing institutional clients to safely store and manage their digital assets through its insured, segregated cold storage solution, Qualified Wallet. Institutions also benefit from Ceffu’s secure gateway to a wide range of liquidity products within the Binance ecosystem as Binance’s institutional custody partner.