Binance has launched Binance Junior, a parent-controlled cryptocurrency app designed for users aged 6 to 17. This move has already ignited discussions regarding the introduction of digital assets to minors.
The company announced on Wednesday that Binance Junior functions as a standalone mobile application, linked to a parent's primary Binance account. This tool empowers adults to deposit cryptocurrency, establish spending and transfer limits, and enable Earn products for their children, subject to local regulations.
Binance has positioned the new product as a financial literacy tool for families. It operates similarly to traditional custodial accounts, where children can hold assets while parents retain legal ownership and control over permissions.
The announcement elicited varied responses from community members, with some commending the initiative while others accused the exchange of targeting children.
Binance Junior's Parental Controls
Binance Junior operates as a custodial sub-account, meaning that the parent's verified identity forms the basis of the entire setup.
The application allows parents to deposit funds from their main Binance account, facilitate asset transfers via on-chain transactions, and decide whether to permit their children to activate the Junior Flexible Simple Earn feature, which is an interest-bearing product offered by Binance.
Teenagers aged 13 and above can also utilize Binance Pay to send and receive cryptocurrency to and from other Junior accounts or their parents, with daily limits determined by the adult.
Binance stated on the Binance Junior website that certain features may be deactivated depending on the user's jurisdiction, emphasizing that differing laws could restrict access to the products.
Cointelegraph reached out to Binance for further information but had not received a response by the time of publication.
Community Divided Over Children and Crypto
The reaction from the cryptocurrency community was polarized.
One X user criticized Binance for "targeting" children, questioning whether the industry's existing youth-focused marketing efforts were already insufficient.
Another user described the move as "crazy and irresponsible," while a separate commenter humorously suggested that children would become "exit liquidity."
However, not all opinions were in disagreement. One community member stated that introducing the next generation to cryptocurrency was "huge for real adoption," praising the parental tools integrated into the product.