币安向资产超100万美元的高净值投资者开放“资本连接”服务

币安Capital Connect向合格个人投资者开放

币安（Binance）首次向其Capital Connect投资市场向符合条件的个人用户开放，使富裕客户能够接触到以往仅限机构投资者使用的专业管理策略。

据CNBC报道，这家加密货币交易所正在扩大访问权限，旨在吸引寻求在加密货币和传统金融市场之间进行专业组合管理的高净值客户。这一举措将平台最初为专业交易团队和机构投资者构建的功能延伸至高净值个人客户，使他们能够与已使用该市场的实体一样比较策略并分配资本。

准入标准与市场增长

个人投资者需持有至少100万美元的资产方可获得资格。币安更新的合规规则提供了多种进入平台的途径：通过KYC验证的个人若达到VIP 3级或以上，或在币安持有至少100万美元资产，或提交外部同等余额证明以供审核，均可符合资格。访问权限仍限于允许的司法管辖区。

币安VIP及机构业务负责人Catherine Chen在接受CNBC采访时指出：“个人投资者确实希望接入Capital Connect，这正是在回应他们的需求。”

Data shows that as of September, Capital Connect had 212 portfolios managed by 77 professional trading teams, compared with 106 portfolios and 35 teams in May. This means that in just four months, the number of listed portfolios has doubled and the number of participating teams has more than doubled.

Comparison of operating mechanisms and traditional finance

Investors can use standardized performance data to compare trading teams through the market and choose investment strategies. Binance said that when deciding on fund allocation, qualified investors mainly focus on the team's past performance and comparable performance data.

Chen likened this arrangement to the "separately managed accounts" commonly used in traditional finance. Under this model, investors can allocate capital to trading strategies without managers having to create separate investment funds. The trading team only needs to focus on research and development of investment strategies and does not need to undertake fund management and operations.

Capital Connect operates based on Binance's Portfolio Account infrastructure and is responsible for processing functions such as management fees, performance fees, subscriptions and redemptions, net asset value reporting and risk indicators. The trading team remains responsible for executing its investment strategy. According to current rules, assets held through a Portfolio Account cannot be transferred or withdrawn by the trading team to external accounts. Funds only flow between the Portfolio Account and its designated trading sub-accounts, and assets are always held by Binance.

Publicly listed trading teams must complete Binance's KYB verification, maintain an active Portfolio Account trading history of more than 30 days, and hold a valid asset management or portfolio management license, or obtain recognized regulatory exemptions. Binance emphasized that it does not guarantee the performance, return or principal safety of the investment portfolio, and the risks of investments made through Capital Connect are borne by investors themselves.

Strategy scope goes beyond cryptocurrencies

Investment options available through Capital Connect are no longer limited to digital assets. Although the platform initially only supported cryptocurrency strategies, Cchen said that more and more trading teams have begun to incorporate traditional financial instruments. Participants include traditional asset management companies and crypto-native quantitative trading companies, some of which operate in both markets at the same time.

The categories currently supported by the platform include market neutrality, statistical arbitrage, directionality, long-short strategies, and traditional financial multi-strategy investment portfolios.

Binance's Traditional Financial Expansion Strategy

This expansion is in line with Binance's recent push to parallel traditional financial products with its cryptocurrency business. Previously, Binance launched five perpetual contracts linked to U.S. stocks and leveraged exchange-traded funds (ETFs), and provided up to 20 times leverage and all-weather trading. A month ago, Binance Futures also launched a perpetual contract linked to the ProShares Bitcoin Strategy ETF and two long-term U.S. Treasury products, providing leverage of up to 25 times.

此外，币安在传统衍生品领域的扩张早已开始。今年5月，它添加了与甲骨文、迪士尼、优步、思科和家得宝等公司挂钩的合约，这些产品通过其期货平台以USDT结算。

币安的传统金融扩张已从衍生品延伸至直接和代币化股权产品。今年6月，币安推出了bStocks服务，允许符合条件的用户将支持的美股持仓转换为1:1由底层证券支持的代币化资产。首批包括英伟达、特斯拉、Circle、美光和闪迪，旨在支持全天候交易及用于自托管钱包和去中心化金融应用。截至8月，bStocks的价值已达到约6.106亿美元，使其成为Token Terminal追踪数据中第二大代币化股票发行商，仅次于Ondo Finance。

与此同时，币安也在并行建设直接股票业务。其Direct Stocks服务在6月推出后的30天内，用户持有的美股规模突破10亿美元，交易量接近30亿美元。符合条件的用户可通过币安应用程序访问超过7,000只美股和ETF。

本月，币安进一步进入传统证券产品领域，为符合条件的用户推出了美股和ETF期权。初始产品允许客户购买看涨和看跌期权，行权后的头寸将通过Alpaca Securities结算为底层股份。

Capital Connect现为高净值个人投资者提供了另一种进入币安不断扩大的投资业务的途径，但其核心是通过专业交易团队管理的投资组合，而非个股、衍生品或代币化股权交易。