Key Points
Binance Wealth meets the growing demand from private wealth sectors for reliable investment solutions in cryptocurrencies directly integrated into a cryptocurrency exchange.
Provides an intuitive platform for wealth managers to confidently support their high-net-worth clients' cryptocurrency investment process, including account openings and investment recommendations.
Binance Wealth mirrors traditional wealth management frameworks while leveraging Binance's security, providing secure access to deep cryptocurrency liquidity for wealth managers and their clients.
Introduction
Binance Wealth is a special solution designed exclusively for wealth managers and their high-net-worth clients who are ready to explore the world of cryptocurrencies. It offers wealth managers an easy-to-use platform to help their clients confidently access digital assets directly on the world's largest cryptocurrency exchange by trading volume.
Binance is the only digital asset exchange in the world that offers such a solution, built on its security infrastructure to provide wealth managers with the convenience and peace of mind to oversee their clients' cryptocurrency investment process.
Growing interest in digital assets
Last year witnessed significant growth in interest from institutional investors and private wealth sectors in digital assets. The demand for a secure and efficient solution to include cryptocurrencies in wealth management portfolios led to the development of Binance Wealth.
Binance Wealth is designed to make it easier than ever for wealth managers to expose their high-net-worth clients to digital assets and provide them with cryptocurrency advice directly through the Binance platform. By providing the tools and infrastructure for wealth managers to take charge of their clients' onboarding and investment recommendations, Binance Wealth offers a familiar and premium experience for high-net-worth clients, equipping wealth managers with all the tools they need to assist clients through their cryptocurrency investment journey.
Binance Wealth supports both active and passive investment with access to a range of trading and performance products. Once clients are onboarded through their wealth managers, they can choose to manage their portfolios independently or rely on their manager's guidance, retaining final approval of all investments recommended by their trusted advisor.
Who is Binance Wealth for?
Starting November 2024, only corporate wealth managers with a registered business entity to provide investment or wealth advisory services will be able to access Binance Wealth. Currently, applications are not available for individual users.
Insights from Binance VIP & Institutional
Catherine Chen, director of Binance VIP & Institutional, commented on the growing interest from institutional investors in digital assets, emphasizing the demand from wealth managers worldwide for cryptocurrency solutions that offer comfortable and secure exposure to digital assets:
Binance Wealth significantly lowers the barriers to entry by providing direct access to the deepest cryptocurrency liquidity within a secure and compliant platform that both managers and their clients can trust.
Integration of traditional wealth management with digital innovation
As the only platform of its kind developed by a cryptocurrency exchange, Binance Wealth reinforces Binance's role in connecting traditional and cryptocurrency markets.
This new service builds on previous successes, such as the tripartite banking solution launched in 2023, and aims to onboard more institutions and private clients into the digital asset space.
How to start using Binance Wealth
Wealth managers who wish to access Binance Wealth can follow these steps:
Register: managers must express their interest through the contact form. Alternatively, they can also reach out to a Binance VIP representative they are already in contact with.
KYB onboarding: eligible wealth managers must complete a KYB ("Know Your Business") process before gaining access to Binance Wealth.
Client onboarding: once onboarded, wealth managers can start helping high-net-worth clients interested in exploring digital assets with their account opening process.
Conclusions
As more people seek to add cryptocurrencies to their portfolios, there is a clear need for a platform that wealth managers can trust, and that is precisely why Binance Wealth was created. Wealth managers now have the opportunity to offer exposure to digital assets to their clients while leveraging Binance's liquidity and security.
Additional readings
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