BingX Sees 20% Institutional Customer Influx Post Crypto ETF Approval

BingX, a prominent crypto exchange, has been making strides in the industry by focusing on user-centric innovation and institutional-grade infrastructure. With over 20 million users and seven years of operation, the platform is positioning itself as a hybrid exchange that caters to both retail traders and institutional investors. At the helm of this evolution is Vivien Lin, the Chief Product Officer and Head of BingX Labs, who is driving the platform’s product innovation and strategic direction.

Lin highlighted the challenges of scalability for platforms with a large retail user base. BingX has addressed this by continuously upgrading its core systems, optimizing its infrastructure, and actively listening to user feedback. This approach ensures that the platform remains responsive to the evolving needs of its global user base. The exchange has also invested in innovative product initiatives, focusing on sectors with strong potential such as Real World Assets (RWA) and AI. BingX Labs supports these projects by helping them acquire users, refine their strategies, and advise on tokenomics, thereby exploring new market opportunities and aiding the growth of its portfolio projects.

In response to the FTX incident, BingX has taken several measures to reinforce transparency and user protection. The platform regularly publishes its Proof of Reserves to build trust and has launched a $200 million Shield Fund to safeguard user assets in extreme situations. Additionally, BingX has invested in a layered security system that includes hot, warm, and cold wallets, with the majority of assets stored securely in cold wallets. The exchange takes hacker activity seriously and uses industry incidents as learning opportunities to strengthen its technology and enhance security measures.

BingX has also enhanced its copy trading feature to cater to diverse user levels. The platform aims to onboard institutional or professional traders as master traders, who can be followed by retail users. A rigorous screening process through the Elite Traders Program ensures that master traders demonstrate strong skills and better risk management, providing retail users with a seamless and rewarding trading experience.

The exchange has seen a significant influx of institutional customers, especially following the approval of crypto ETFs. Traditional finance traders and institutions are now actively entering the crypto market and looking for trusted exchanges. BingX has had many reputable institutions approach them expressing interest in forming trading partnerships. This trend has pushed the platform to upgrade its core systems to meet institutional demands and elevate its service quality, offering tailored solutions to institutional clients, family offices, and high-net-worth individuals.

BingX differentiates itself in the competitive market by running engaging campaigns and understanding its users’ needs deeply. The platform offers a variety of features designed for niche user groups, such as its Standard Futures product, which is popular among newcomers. This tailored approach helps BingX capture and grow its market share.

Lin believes that CeFi and DeFi are complementary, with CeFi offering a better user experience and DeFi excelling in transparency. She observes a trend where CeFi platforms are becoming more transparent, and DeFi platforms are improving their user experience. The differences between CeFi and DeFi will likely come down to the fundamental characteristics of their underlying technologies, such as trading speed, latency, and security.

Looking ahead, BingX is focusing on partnerships in areas such as infrastructure, RWA, AI, PayFi, and DeFi. The platform has launched ChainSpot, a product designed to bridge the CeFi user experience with DeFi liquidity, allowing users with a BingX account to seamlessly access DEX liquidity. This is just the beginning of many similar initiatives planned for the coming months.

As a female leader in the Web3 industry, Lin advises women to learn technical skills such as coding, AI technologies, or marketing and customer service. She believes that gaining skills in these areas will help build a sharper understanding of market needs and what people truly want. Lin is optimistic about the future of the crypto market, particularly the price of BTC and other major coins, and advises caution when trading meme tokens due to their significant volatility.