Binance has announced a white-label crypto service for traditional finance (TradFi) institutions, offering infrastructure to banks, brokerages, and exchanges seeking to add crypto capabilities for their clients without building in-house technology.

Binance’s offering, branded “Crypto-as-a-Service” (CaaS), allows licensed financial institutions to utilize Binance’s spot and futures markets, liquidity pools, custody solutions, and compliance tools.

The CaaS system includes features such as internalized trading, management dashboards for oversight, and customizable compliance and client management tools.

This story is an excerpt from the Unchained Daily newsletter.

Binance’s move follows a similar one from Coinbase earlier this year, which allows TradFi players to leverage the firms’ crypto infrastructure while keeping their own front-end experience.

Last quarter, Coinbase made $61 million in institutional transaction revenue from the $194 billion in institutional spot trading volume.