Binance updates Proof-of-Reserves system to add 11 new tokens

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Binance; Photo Source: Kanchanara, Unsplash
Binance’s blog post said, “On Binance, user funds are always collateralized at a 1:1 ratio, plus additional reserves.”

Binance has upgraded its Proof-of-Reserves (PoR) system to allow users to verify their assets for 11 new tokens. The newly added coins include WazirX (WZX), 1Inch (1INCH), Mask Network (MASK), Enjin Coin (ENJ), The Graph (GRT), Dogecoin (DOGE) and Curve DAO token (CRV), among others.

This brings the total number of verifiable tokens on Binance's PoR system to 24 coins.

According to its blog post, Binance held over $63B worth of verifiable crypto assets on its platform at the beginning of March. The snapshot dated March 1 revealed that users funds on the exchange are collateralized at a 1:1 ratio, with additional reserves in its on-chain balance. 



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Binance holds an excess of USD Coin (USDC), with the stablecoin’s reserve ratio surpassing 5490%. The exchange’s on-chain Bitcoin (BTC) holdings amount to $12.4B while its Ethereum (ETH) assets range around the $6.99B mark.  

It is worth mentioning that Binance’s PoR report has not been audited by third-party accounting firms. This is because Mazars, the firm responsible for auditing the exchange's PoR report, stopped offering services to crypto platforms after December 2022.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Binance’s blog post said, “On Binance, user funds are always collateralized at a 1:1 ratio, plus additional reserves.”

Binance has upgraded its Proof-of-Reserves (PoR) system to allow users to verify their assets for 11 new tokens. The newly added coins include WazirX (WZX), 1Inch (1INCH), Mask Network (MASK), Enjin Coin (ENJ), The Graph (GRT), Dogecoin (DOGE) and Curve DAO token (CRV), among others.

This brings the total number of verifiable tokens on Binance's PoR system to 24 coins.

According to its blog post, Binance held over $63B worth of verifiable crypto assets on its platform at the beginning of March. The snapshot dated March 1 revealed that users funds on the exchange are collateralized at a 1:1 ratio, with additional reserves in its on-chain balance. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Binance holds an excess of USD Coin (USDC), with the stablecoin’s reserve ratio surpassing 5490%. The exchange’s on-chain Bitcoin (BTC) holdings amount to $12.4B while its Ethereum (ETH) assets range around the $6.99B mark.  

It is worth mentioning that Binance’s PoR report has not been audited by third-party accounting firms. This is because Mazars, the firm responsible for auditing the exchange's PoR report, stopped offering services to crypto platforms after December 2022.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande