Binance has launched Binance Junior, a parent-controlled cryptocurrency application aimed at users aged 6 to 17, which has sparked controversy over introducing digital assets to minors.
The company announced on Wednesday that Binance Junior is a standalone mobile application linked to the parent’s main Binance account. The tool allows adults to deposit cryptocurrency, set spending and transfer limits, and enable Earn products for children in accordance with local regulations.
Binance positions this new product as a family-centered financial literacy tool. It is similar to traditional custodial accounts, where children can hold assets while parents remain the legal owners and control permissions.
The announcement elicited mixed reactions among community members, with some praising the move while others criticized the exchange for targeting children.
Binance Junior operates as a custodial sub-account, meaning that the parent's verified identity supports the entire setup.
The app allows parents to deposit funds from their main Binance account, transfer assets via on-chain transactions, and choose whether to allow children to enable the Junior flexible yield feature, which is a yield-generating product from Binance.
Teenagers aged 13 and above can also use Binance Pay to send and receive cryptocurrency to other Junior accounts or their parents, with daily limits set by adults.
Binance stated on the Binance Junior website that certain features may be disabled based on the user's location, emphasizing that different laws may restrict access to the product.
Cointelegraph reached out to Binance for more information but had not received a response by the time of publication.
The cryptocurrency community's reaction has been polarized.
One X user criticized Binance for "targeting" children, questioning whether the industry's existing marketing efforts aimed at teenagers are insufficient.
Another user called the move "crazy and irresponsible," while another commenter joked that children would become "exit liquidity."
Not everyone is opposed. One community member stated that introducing cryptocurrency to the next generation is "significant for true adoption" and praised the parental tools that come with the product.
Related: Binance appoints co-founder He Yi and Richard Teng as co-CEOs
Original article: “Binance's newly launched children's cryptocurrency education app 'Junior' sparks polarized reactions”
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