As the interest of high-net-worth individuals in cryptocurrencies continues to grow, one of the world’s largest blockchain ecosystems, Binance, has launched a new service aimed at making it easier for wealth managers to guide their clients into the world of digital assets. This innovative service, named “Binance Wealth,” not only simplifies the onboarding process but also offers an operational approach similar to traditional wealth management, catering to the increasing demand for cryptocurrencies in the private wealth market.
Leading the way: Providing cryptocurrency management tools for wealth managers
Binance Wealth is the first cryptocurrency asset management solution specifically designed for wealth managers, allowing over 230 million users worldwide to easily enter the cryptocurrency space through trusted wealth managers. This solution enables wealth managers to assist clients in completing the account opening process and providing investment advice while maintaining the client’s complete autonomous control over their assets, akin to traditional wealth management practices.
Streamlining the account opening process: Making it easy for wealth managers to guide clients
To use Binance Wealth, wealth managers must first submit an application and, upon passing the review, assist their clients in completing the necessary KYC (Know Your Customer) and KYB (Know Your Business) document verification processes. Once the account is opened, clients can manage their investments independently through the Binance Wealth platform and can review and approve investment recommendations from their wealth managers at any time.
Meeting the demands of high-net-worth individuals for cryptocurrency assets
Binance Wealth provides a suitable entry point for high-net-worth individuals to explore and diversify their investment portfolios into this emerging asset class with the assistance of wealth managers. This new offering from Binance is designed to meet the needs of the private wealth management market, helping high-net-worth clients find a foothold in the cryptocurrency market.
Aligning with traditional wealth management: A professional team crafting a traditionalized cryptocurrency experience
Binance’s global expert team designed this solution to offer wealth managers an experience closely resembling traditional wealth management models. With a streamlined operational interface and a unified overview interface, wealth managers can easily review all clients’ asset portfolios and provide comprehensive support. This not only lowers the barriers to entry for digital assets but also allows wealth managers to easily get started.
A wide selection of cryptocurrency assets: Beyond Bitcoin and Ethereum
Binance Wealth offers a diverse range of asset choices far exceeding just Bitcoin and Ethereum, enabling clients to explore the various tokens supported on the Binance platform. This flexibility allows clients to engage in active trading and also invest passively through Binance’s earning and staking products, catering to different investment styles.
Premium VIP services: Exclusive thoughtful services for wealth managers
Through Binance Wealth, wealth managers can enjoy exclusive VIP services provided by Binance, with high-level support from Binance VIP account managers, ensuring that wealth managers receive comprehensive assistance and support while using the platform.
Expanding the appeal of digital assets: Binance drives the mainstreaming of cryptocurrency assets
Catherine Chen, Head of Binance VIP & Institutional, stated, “As global investors gradually recognize the potential of digital assets, we launched Binance Wealth in response to client demand, making it easier for wealth managers to enter the cryptocurrency asset space. Driving capital inflow is crucial for the mainstreaming of digital assets; however, the private wealth market has long lacked traditional infrastructure, making it difficult to enter the cryptocurrency world. The launch of Binance Wealth will lower the entry barriers and facilitate more market participants to enter this emerging asset class, bridging traditional finance and the crypto world.”
Industry pioneer: Binance’s commitment to supporting institutions in entering the digital asset market
The launch of Binance Wealth once again demonstrates Binance’s innovative capability to support institutions entering the digital asset space. In addition to this solution, Binance has also launched several innovative products aimed at traditional and institutional investors, such as its bank-trustee custody solution, which holds trading collateral assets through partner banks to mitigate counterparty risk for institutional investors. The introduction of Binance Wealth showcases Binance’s determination to promote the development of the digital asset market. With the emergence of this innovative platform, the distance between traditional finance and cryptocurrency assets will gradually shorten, enabling more individuals to enter this new asset domain through trusted wealth managers