Binance, the well-known global blockchain ecosystem trusted by over 230 million people worldwide, has unveiled Binance Wealth, a groundbreaking technological solution for wealth managers in the crypto exchange industry. This innovative platform offers wealth managers the ability to oversee their clients’ onboarding process and provide investment recommendations, just like traditional wealth management services. With Binance Wealth, customers can receive comprehensive assistance throughout the onboarding process while still maintaining full control over their investments.
To gain access to Binance Wealth, wealth managers must first apply and successfully complete the onboarding process. Once onboarded, they can guide their clients through the necessary Know Your Customer (KYC) and Know Your Business (KYB) verification procedures. After onboarding, customers have the option to directly manage their own assets while receiving investment suggestions from their wealth managers for review and approval.
Binance Wealth enables wealth managers to meet the increasing demand from high-net-worth individuals who are seeking exposure to the cryptocurrency market. By leveraging the expertise of their trusted wealth managers, Binance is catering to the private wealth sector’s desire to diversify their investment portfolios.
Developed by Binance’s team of top crypto and traditional financial experts, Binance Wealth significantly reduces the entry barriers for wealth managers and their affluent clients who wish to invest in digital assets. Key features of Binance Wealth include:
1. Familiar User Experience: Binance Wealth offers a user-friendly and cohesive dashboard that provides wealth managers with a comprehensive overview of their onboarded clients and their portfolios.
2. Extensive Token Selection: Clients of wealth managers can easily explore Binance’s wide range of supported tokens, going beyond popular cryptocurrencies like Bitcoin and Ethereum.
3. Investment Flexibility: Binance Wealth caters to both active and passive investment strategies, supporting both trading and earn/stake products.
4. VIP Service: Wealth managers can access white-glove VIP services provided by Binance’s key account client managers, ensuring high-touch support and assistance.
Catherine Chen, Head of Binance VIP & Institutional, commented on the introduction of Binance Wealth, highlighting Binance’s commitment to facilitating institutional adoption of cryptocurrency assets. She also mentioned the banking triparty solution, which further demonstrates Binance’s dedication to supporting traditional and institutional users in their transition to digital assets. This solution minimizes counterparty risk by holding trading collateral in the form of traditional assets with a partner bank.
For more information, please visit binancewealth.com.
