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CEFFU Custody and Mirror Service to Binance
CEFFU Custody and Mirror Service to Binance
Updated over a week ago


Ceffu is a custodian and provider of custodial Services for Virtual Assets. It provides secure storage of assets in Cold wallet architecture via MPC technology. Bequant uses Ceffu custody services for its prime brokerage services provided to you. While leveraging a Bequant account on Ceffu, the Mirror service enables you to trade funds on Binance Exchange while funds are secure in Bequant's Cold wallets held on Ceffu. You can check the balance of the cold wallet at any time with your favourite blockchain explorer.

Please be aware of Ceffu specifics using Bequant Prime Brokerage services:

  1. Transferring to and from Ceffu involves Cold wallet operations.

  2. Mirroring to Binance is fulfilled in a specific coin. The mirroring will not limit which instruments you can trade on Binance. However, the choice of the coin to be mirrored is limiting your future settlements and transfers out of Ceffu.

  3. Mirroring and Settlements are fulfilled in the same currency/coins.

  4. To be able to execute a settlement, you need to convert assets to the currency of original mirroring and transfer them to the Spot section of the Binance trading account.

  5. The customer portal will help you to find the total and mirrored balance of funds in Ceffu.

  6. In case of any problems, our Support team will contact you to consult you about the correct currency and amount needed to be in the Spot section of the Binance trading account.

How mirroring and settlement works

Any transfers to Ceffu via our prime brokerage platform will automatically put funds in Bequant's cold wallet held on the Ceffu platform and mirror these funds to your linked Binance trading account.

Transfer from Ceffu will automatically settle funds from the Spot section of the trading account and transfer funds from Ceffu to selected destinations with an on-chain transaction.

When you use the Mirror function, your assets are locked in both Ceffu account and the linked Binance Exchange account. You can only use the mirrored assets to trade on Binance Exchange, not to withdraw them.

As long as the mirrored assets are 100 BTC, the locked amount in the trading account is 100 BTC equivalent.

If Mirror asset amount = 0, it means no locking of assets in Ceffu and Binance. All assets remaining in Ceffu and Binance accounts can be withdrawn.

Below is a scenario table for your convenience:


Ceffu Balance

Binance Exchange Balance

Deposit 100 BTC in Ceffu

100 BTC


Mirror 100 BTC

mirror asset amount = 100

100 BTC (100 BTC locked)

available withdrawal amount from Ceffu = 0 BTC

100 BTC (100 BTC locked)

available withdrawal amount = 0 BTC

Trading - profit 10 BTC

mirror asset amount = 100

100 BTC (100 BTC locked)

available withdrawal amount from Ceffu = 0 BTC

110 BTC (100 BTC locked)

available withdrawal amount = 10 BTC

Withdrawal 10 BTC from Binance

mirror asset amount = 100

100 BTC (100 BTC locked)

available withdrawal amount from Ceffu = 0 BTC

100 BTC (100 BTC locked)

available withdrawal amount = 0 BTC

Trading - loss 10 BTC

mirror asset amount = 100

100 BTC (100 BTC locked)

available withdrawal amount from Ceffu = 0 BTC

90 BTC (100 BTC locked)

available withdrawal amount = 0 BTC

Deposit 2 BTC in Binance

mirror asset amount = 100

100 BTC (100 BTC locked)

available withdrawal amount from Ceffu = 0 BTC

92 BTC

(100 BTC locked)

The additional 2 BTC cannot be withdrawn.

Available withdrawal amount = 0 BTC

(Locked assets are still 100 BTC, so the available withdrawal amount = 0

If the balance is 100+X BTC, you can withdraw X)

Settle 90 BTC from Binance*

mirror asset amount = 10

100 BTC (10 BTC locked)

available withdrawal amount from Ceffu = 90 BTC

2 BTC (10 BTC locked)

available withdrawal amount = 0 BTC

Settle 10 BTC from Ceffu**

All mirror assets settled.

mirror asset amount = 0

90 BTC (0 in mirror, no assets locked)

available withdrawal amount from Ceffu = 90 BTC


available withdrawal amount = 2 BTC

* Settle from Binance means that deduction of funds takes place from the Binance trading account, while locked funds on Ceffu platform will be unlocked in Ceffu cold wallet.

** Settle from Ceffu means that locked funds on Ceffu platform will be transferred from a cold wallet to a Binance settlement account.

Binance and Ceffu do not force any settlement. Any settlements are client driven. If a significant amount is mirrored, Ceffu could ask to settle part of the funds that aren't used for trading. In this case, our support team will contact you to resolve this situation.

Risk Warning

Custody Risk

Having Digital Assets on deposit with any third party Custodian or Exchange has attendant risks. Custody involves storage of Digital Assets in one or more “cold wallets,” “warm wallets” and/or “hot wallets.” This will require the Custodian the right to control private keys. Ceffu will have full control of the private keys to cold wallets where your assets will be held. The theft, loss or destruction of a private key required to access a Digital Asset is irreversible, and any such private key would not be capable of being restored. Losing this private key is equivalent to losing access to those Digital Assets forever. There is no central authority to contact to regenerate that private key. Having this private key stolen is equivalent to giving full access to the Digital Assets to a malicious person/entity. Furthermore, any loss of private keys relating to digital wallets used to store Digital Assets could result in the loss of such Digital Asset.

Counterparty Risk and Settlement Risk

The Digital Assets held by any third party Exchange or off-exchange Custodian (including Binance and Ceffu) may be subject to counterparty risk or any specified or unforeseen risks of that relevant Exchange or Custodian. Such third parties are often not regulated nor supervised by any regulatory authorities. It is difficult (and often impossible) to assess their financial situation, because audited financial statements are often not available. Moreover, such third parties are not subject to any regulatory capital or liquidity requirements and investor protection. Hence, the credit and counterparty risk faced when executing and settling trades and holding assets with those third parties is high. If any such third party loses any of your Digital Assets, defaults, is in financial distress, becomes insolvent or goes out of business, there may be no specific legal protection that covers you for losses arising from any funds you may have held with such a third party. In the event of a failure of such a third party, you may become a general unsecured creditor against that third party. Depending on the structure and security of the third party crypto wallets, some third parties may be vulnerable to hacks, resulting in the theft of Digital Assets/fiat.

Furthermore, you remain subject to counterparty and settlement risk in relation to any unsettled profits that may be made on an Exchange connected to the Ceffu Services. As such, you should perform your own due diligence on any Exchange connected to the Ceffu Services and agree to assume all risks and responsibility in connection with such trading thereon. BEQUANT remains independent from and does not recommend the use of any particular Exchange or off-exchange Custodian.

BEQUANT will not be responsible in the event of losses caused by such third parties.

Cyber/Fraud Risk

The nature of Digital Assets may lead to an increased risk of cyber attack, account compromise or fraud. While BEQUANT believes it has developed an appropriate security system reasonably designed to safeguard Digital Assets from theft, loss, destruction and other issues relating to hackers and technological attack, such assessment is based upon known technology and threats. As technology develops, the security threats to Digital Assets will likely adapt and previously unknown threats may emerge. To the extent that BEQUANT is unable to identify and mitigate or stop new security threats, DigitalAssets may be subject to theft, loss, destruction, malware attacks, denial of service attacks, coordinated attacks, account takeovers and other attacks which could result in loss of assets. BEQUANT’s service providers may also be vulnerable to targeted attacks, unauthorized access, fraud, computer viruses, denial of service attacks, terrorism, firewall or encryption failures and other security problems. Cyber-attacks resulting in the hacking of Digital Asset trading platforms and thefts of Digital Assets are common. Victims may have difficulty recovering losses from hackers or trading platforms.

Attackers may also seek to steal information with regards to financial data or user information or take other actions that would be damaging to you. In addition, transactions in Digital Assets may be irreversible, and, accordingly, losses due to accidental or fraudulent transactions may not be recoverable.

Technology and Internet Risks

Access to the Services may become degraded or unavailable at any time, including during times of significant volatility or volume. This could result in the inability to use or access the Ceffu Services and may also lead to support response time delays. Although BEQUANT strives to provide you with excellent service, we do not represent that the Ceffu Services will be available without interruption and we do not guarantee that any order will be executed, accepted, recorded, or remain open. BEQUANT shall not be liable for any losses resulting from or arising out of transaction delays.

You acknowledge that there are risks associated with utilising an internet-based trading system including, but not limited to, the failure of hardware, software, and internet connections, the risk of malicious software introduction, the risk that third parties may obtain unauthorized access to information and/or assets (including your Digital Assets) stored on your behalf, cyber attack, Digital Asset network failure (such as blockchain), computer viruses, communication failures, disruptions, errors, distortions or delays you may experience when using the Ceffu Services, howsoever caused, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from BEQUANT.

Risk relating to the platform downtime or IT maintenance

Ceffu may, from time to time, perform maintenance on its platform, routine or otherwise. This may lead to platform downtime and lack of access to the Ceffu platform, potentially resulting in a delay or cancellation of the Ceffu Services.

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