Binance sub account
Owners of high-end accounts at the Binance cryptocurrency exchange will now be able to create up to 200 sub accounts that are controlled from a master account.
The owner of the master account is capable of changing the rights and privileges that each sub account has. Binance decided to introduce the sub accounts system after it became evident that Binance was appealing to more and more institutional investors. An institutional investor is likely to want some control over the accounts that their employees have.
They are not likely to want to have fully separate accounts for everyone. With a master account, one can look at an overview of sub accounts activity.
One can also make trades from one sub account to another without having to pay fees. Only high ranking users of the Binance exchange are allowed to create master accounts.