Ceffu

Company and ownership

Ceffu began as Binance Custody, which opened its institutional service in December 2021. The business was renamed on February 9, 2023, taking a name inspired by SAFU, Binance's Secure Asset Fund for Users, and existing client services carried over unchanged. Ceffu describes itself as the only institutional custody partner of the Binance exchange. Ian Loh is chief executive.

Ownership has drawn scrutiny. In a November 2022 note on its site, Ceffu said it was run out of Bifinity UAB, a Lithuanian company registered as a virtual currency wallet and exchange operator. CoinDesk reported in September 2023 that a November 2022 SEC filing named Changpeng Zhao as Bifinity's sole shareholder and that a June 2023 SEC affidavit said he still ultimately owned it. A Ceffu spokesperson told CoinDesk that Ceffu is not a Binance entity and declined to discuss its current ownership.

Custody model and security

Qualified Wallet, the main custody account, keeps client assets in segregated cold storage. Each client receives dedicated on-chain addresses holding only its own funds. Private keys are protected with multi-party computation under a threshold signing scheme: a set number of key shares, such as 3 of 5, must sign, and the full key is never reassembled. The same 2022 note says the shares are generated on separate air-gapped FIPS 140-2 devices. Prime Wallet serves institutions that need faster access to assets. Both wallet types use role-based permissions and multi-approval workflows for sensitive actions such as withdrawals.

Ceffu is certified to ISO 27001 and ISO 27701. It also holds a SOC 2 Type 2 attestation.

Regulation and licenses

Ceffu Custody FZE, incorporated with the Dubai World Trade Centre Authority, received a full VASP license for custody services from Dubai's Virtual Assets Regulatory Authority on October 9, 2025. The VARA register lists license VL/25/10/001 as active and limits the entity to institutional and qualified investors. Prime Wallet, MirrorX, MirrorRSV and staking fall outside that license, and the Dubai entity does not offer them to UAE residents.

In Bhutan, the Gelephu Financial Services Office lists Ceffu Digital Pte. Ltd. as licensed to provide custody from June 3, 2026; the same license covers arranging credit and dealing in investments as agent. SIX Swiss Exchange approved Ceffu in September 2026 as an eligible custodian for issuers of crypto-backed ETPs, and its list names Ceffu Custody FZE.

Products and integrations

MirrorX, launched in August 2023, lets institutions trade on Binance while assets stay in Ceffu custody and positions settle off-chain. KuCoin Institutional was added in January 2026, and FalconX connected MirrorX to its Prime Connect service in 2025. MirrorRSV, introduced with Binance in April 2025, runs off-exchange settlement from cold storage. In Franklin Templeton and Binance's off-exchange collateral program, Ceffu Custody FZE holds Benji-issued tokenized money market fund shares pledged as trading collateral. Since October 2026 Ceffu has also offered custody for bStocks, Binance's tokenized US stocks, in Qualified and Prime wallets.

Native staking runs from cold wallets for INJ, SOL and NEAR, and ETH can be staked for WBETH. Two lending products followed in 2026: Collateral Management, with Ceffu as independent custodian of pledged assets and Venus Protocol as a partner, and Agency Lending, a marketplace for collateral-backed loans. The OpenAPI covers wallets, deposits and withdrawals, sub-wallets and MirrorX orders. Ceffu reported 50 supported networks at the end of 2024. Its asset page lists Bitcoin, Ethereum, BNB Smart Chain, Solana, Tron and XRP Ledger among them.