Binance unveiled the Binance Junior app at Binance Blockchain Week, offering a parent-controlled crypto savings account for children aged 6 to 17 — functioning as a sub-account linked to a parent's main Binance account with full parental oversight at all times. Parents can open up to five Junior accounts and fund them via their own Binance accounts or through on-chain transfers, with deposits in certain regions earning variable interest through the Junior Flexible Simple Earn product.
Junior account users cannot trade crypto or make on-chain withdrawals — their activity is restricted to transfers to linked parental accounts or other Junior accounts, which children aged 13 and above may initiate independently with a daily cap of $400. Geographic availability varies by country and age restriction: Austria, Spain, Italy, Lithuania, Cyprus, Bulgaria, and South Korea restrict the account to over-14s, while Brazil, Germany, Ireland, Poland, Slovakia, Hungary, and Croatia limit access to over-16s. Binance co-founder Yi He stated at the launch that financial health and literacy are key to preparing children for independent real-life challenges, while the exchange also released a companion children's book titled ABC's of Crypto. A Gemini survey found that 51% of global Gen Z respondents currently own or have owned cryptocurrency. Cryptocurrency analyst Glen Goodman told Decrypt the app follows a well-known business principle of acquiring future customers early, while welcoming the fact that Junior accounts are heavily restricted — no trading, no buying or selling, with children simply holding crypto purchased by their parents.
Binance emphasised that early exposure to formal savings accounts fosters positive long-term financial habits as crypto becomes increasingly integrated into mainstream finance — with the parent or legal guardian bearing full responsibility for all activity in the sub-account and compliance.
Sources:
- https://decrypt.co/350792/binance-new-crypto-savings-account-kids
- https://coincentral.com/binance-launches-junior-wallet-app-for-childrens-crypto-savings/
- https://www.finextra.com/newsarticle/47008/binance-targets-crypto-kids-with-junior-account
- https://blockonomi.com/binance-launches-junior-crypto-savings-account-for-children-aged-6-17/
- https://www.binance.com/en/support/announcement/detail/4affff5c0b67492d8a9167df634b7e98
