Binance Launches Crypto Savings Sub-Accounts for Children

• The platform is designed to let parents open and manage a savings-style crypto account on behalf of their children
• Binance Junior blocks trading and uncontrolled transfers
• Binance also released a children’s book titled “ABC’s of Crypto”

On December 2, Binance announced the launch of Binance Junior, a parent-controlled crypto savings app and sub-account for children and teenagers (ages 6–17).

The platform is designed to let parents open and manage a savings-style crypto account on behalf of their children. Parents (or guardians) must use their own verified Binance account (with 2FA) to create and oversee the Junior account.

Related: Binance Names Co-Founder Yi He Co-CEO Alongside Richard Teng

The ‘Savings-Only’ Architecture

There are some important restrictions and safety features as well. Namely, there’s no trading allowed, as Binance Junior blocks such activities and uncontrolled transfers. Additionally, for users aged over 13 years old (or per local age-of-majority laws), limited transfers may be allowed, but only under parental oversight. As such, transfers to non-parental adults is prohibited.

Furthermore, parents get full visibility and control, receive notifications on all activity, can freeze or disable the account any time, and must fund the Junior account via their own master wallet or on-chain deposits.

Binance stated that the account supports savings and earn functions, meaning children’s balances can earn rewards via Binance’s ”Flexible Simple Earn” feature, rather than being exposed to market-risk trading.

As part of this youth-oriented push, Binance also released a children’s book titled “ABC’s of Crypto”, meant to help young users (and their families) learn basic crypto concepts, blockchain, security, and the notion of digital finance.

Binance’s idea behind this

According to the announcement, the world’s largest cryptocurrency exchange (in terms of daily trading volume) views its new service as part of a bigger plan to offer financial tools for families.

Binance argues that as digital assets and blockchain become more integrated with mainstream finance, early exposure to savings, in addition to financial literacy, could benefit the next generation.

The app is presented as a learning-focused savings account and not a tool for quick trading. It has built-in limits to stop risky behavior, but still lets young users get long-term experience with crypto through their parents’ approval and monitoring.

Binance sees this as a way to teach good savings habits with digital assets from an early stage, similar to a crypto version of a child’s savings account.

Related: Binance Cuts Illegal Crypto Activity to Historic Lows, Data Shows