World's largest exchange by trading volume, Binance, has launched Binance Wealth, a new product exclusively for wealth managers.
In an announcement on 29 October, the exchange disclosed that the new solution will enable the institutional clients to onboard their clients directly onto Binance, allowing high net worth individuals to access several digital assets.
According to the exchange, the wealth managers would be responsible for registering their clients by creating subaccounts and submitting the know-your-customer or know-your-business (KYC/KYB) documentation for each client. Once onboarded to Binance, each client will have full control of their investments while receiving recommendations from their wealth managers.