BIT Launches Landmark "Same Name Virtual Account" Feature: Ushering in a New Era of OTC Trading that is Convenient, Efficient, and Compliant
Source: BIT
The world's leading digital asset financial service group, BIT, announced today that its over-the-counter trading business has officially launched the "Virtual Account (VA)" service. This marks a milestone for BIT in optimizing large-value fiat on/off-ramp channels and enhancing the asset allocation experience for high-net-worth individuals and institutional clients.
For a long time, the two-way exchange between traditional fiat and crypto assets has faced many challenges such as complex bank reviews and delayed transactions. To address these pain points, BIT has partnered with top global commercial banks to help clients open Virtual Accounts with the banks, creating a named, compliant fund closed-loop channel.
Diversified Account System, Limited-Time Promotion Now Open
To meet the diverse needs of different types of clients, BIT's over-the-counter trading has launched two account products for individual and institutional clients to choose from: Core Account and Plus Account.
· Core Account: A single-currency account that meets basic USD transaction needs, with additional currency options available upon request. Efficient, convenient, quick account opening.
· Plus Account: A multi-currency account (supporting USD, SGD, HKD, EUR) in partnership with AA-rated banks.
During the promotional period, individual and institutional clients can enjoy limited-time benefits for opening relevant accounts, further enhancing the account opening and usage experience.
The launch of BIT's Virtual Account service is another important milestone in BIT's continuous promotion of compliant operations and the construction of a more open and convenient crypto asset service system. In the future, BIT will continue to uphold the "customer-first" philosophy, innovate continuously, and provide higher-quality services to global users.
About BIT
BIT is a digital financial service group serving global institutional clients, dedicated to providing secure and efficient digital asset trading and liquidity solutions for professional institutional investors and high-net-worth clients. Fly Wing Technologies Pte. Ltd. is a wholly-owned subsidiary of BIT based in Singapore, focusing on over-the-counter trading business serving global institutions and high-net-worth clients, including cryptocurrency miners, quantitative trading teams, fund companies, and high-net-worth individuals in both the crypto and traditional financial sectors. The company has officially obtained approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).
This article is a contribution and does not represent the views of BlockBeats.
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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.
The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.
Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.
Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.
The trading process has been streamlined into five steps:
· Choose the trading asset
· Select long or short
· Input position size and leverage
· Confirm order details
· Confirm and open the position
The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.
Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:
· End-to-end encrypted private groups supporting up to 1024 members
· End-to-end encrypted voice communication
· One-click position sharing
· One-click trade copying
On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.
By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.
Mixin has also introduced a referral incentive system based on trading behavior:
· Users can join with an invite code
· Up to 60% of trading fees as referral rewards
· Incentive mechanism designed for long-term, sustainable earnings
This model aims to drive user-driven network expansion and organic growth.
Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:
· Separation of transaction account and asset storage
· User full control over assets
· Platform does not custody user funds
· Built-in privacy mechanisms to reduce data exposure
The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.
Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.
The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.
Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.
This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."
The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.
Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.
Its core capabilities include:
· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations
· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets
· Decentralization: achieving full user control over assets without relying on custodial intermediaries
· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication
Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.

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