Binance Wealth Sets Industry Precedent by Launching Crypto Asset Management Solutions for Wealth Managers
With the growing interest of high net worth individuals in cryptocurrencies, Binance, one of the world’s largest blockchain ecosystems, has launched a new service aimed at making it easier for wealth managers to guide clients into the digital asset world. This innovative service, called “Binance Wealth,” not only simplifies the onboarding process but also provides a user experience similar to traditional wealth management to meet the increasing demand for cryptocurrencies in the private wealth market.
Leading the trend: Binance provides cryptocurrency management tools for wealth managers
Binance Wealth is the first cryptocurrency asset management solution designed specifically for wealth managers, allowing over 230 million global users to easily enter the cryptocurrency space through trusted wealth managers. This solution enables wealth managers to assist clients in the account opening process and provide investment advice while maintaining full control over their assets, similar to traditional wealth management.
Streamlined account opening process: Assisting clients with ease
To use Binance Wealth, wealth managers need to first submit an application and assist their clients in completing the required Know Your Customer (KYC) and Know Your Business (KYB) verification processes upon approval. Once the account is opened, clients can manage their investments through the Binance Wealth platform and review and approve investment advice from their wealth managers at any time.
Meeting the demand of high net worth individuals for digital assets
Binance Wealth provides a suitable entry point for high net worth individuals to explore and diversify their investment portfolios in 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 and help high net worth clients find their footing in the cryptocurrency market.
Aligning with traditional wealth management: A professional team creating a familiar cryptocurrency experience
Binance’s global team of experts has designed this solution to provide wealth managers with an experience similar to traditional wealth management. With a user-friendly interface and a unified overview, wealth managers can easily view the asset portfolios of all their clients and provide comprehensive support. This not only lowers the barriers to entry into digital assets but also enables wealth managers to easily adapt to the platform.
A wide range of cryptocurrency choices: Beyond Bitcoin and Ethereum
Binance Wealth offers a diverse selection of assets beyond Bitcoin and Ethereum, allowing clients to explore the various tokens supported on the Binance platform. This flexibility enables clients to engage in active trading and passive investments through Binance’s earning and staking products, catering to different investment styles.
High-end VIP service: Exclusive support for wealth managers
Through Binance Wealth, wealth managers can enjoy VIP exclusive services provided by Binance VIP account managers, ensuring comprehensive support and assistance when using the platform.
Expanding the appeal of digital assets: Binance drives mainstream adoption of cryptocurrencies
Catherine Chen, Head of Binance VIP & Institutional, stated, “As global investors gradually realize the potential of digital assets, we launched Binance Wealth in response to customer demand, making it easier for wealth managers to enter the cryptocurrency space. It is crucial to drive capital inflows for the mainstream adoption of digital assets, but the private wealth market has long lacked traditional infrastructure, making it difficult to enter the crypto world. The launch of Binance Wealth will lower the barriers to entry, encourage more market participants to enter this emerging asset class, and bridge the gap between traditional finance and the crypto world.”
Industry pioneer: Binance supports institutional entry into the digital asset market
The launch of Binance Wealth demonstrates Binance’s innovative ability to support institutions in entering the digital asset space. In addition to this solution, Binance has also introduced several innovative products for traditional and institutional investors, such as their bank custody solutions, which reduce counterparty risks for institutional investors by holding trading collateral assets through partner banks. The launch of Binance Wealth showcases Binance’s determination to drive the development of the digital asset market. With this innovative platform, the gap between traditional finance and digital assets will gradually narrow, allowing more people to enter this new asset class through trusted wealth managers.
