Binance, the trusted global blockchain ecosystem with over 230 million users worldwide, has unveiled Binance Wealth, a groundbreaking technological solution for wealth managers in the crypto exchange industry. This innovative platform allows wealth managers to oversee their clients’ onboarding process and offer investment recommendations, providing comprehensive support and maintaining discretionary control.
To gain access to Binance Wealth, wealth managers must first apply and successfully complete the onboarding process. They can then assist their clients by submitting the necessary KYC/KYB documents for verification. Once onboarded, customers have the option to manage their own assets directly while receiving suggestions from their wealth managers for their approval.
With Binance Wealth, wealth managers can now cater to the needs of their high-net-worth clients who are seeking exposure to digital assets. By collaborating with their trusted wealth managers, Binance is meeting the demand from the private wealth sector, which seeks 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. The platform offers a user-friendly interface, providing wealth managers with a comprehensive dashboard that summarizes their onboarded clients and their portfolios. Furthermore, clients of wealth managers can explore Binance’s wide range of supported tokens beyond Bitcoin and Ethereum.
Binance Wealth also caters to the diverse investment strategies of customers, supporting both active trading and earn/stake products for passive investment. Additionally, the platform offers a white-glove VIP service, where Binance VIP key account managers provide personalized assistance to wealth managers.
Catherine Chen, Head of Binance VIP & Institutional, commented on the introduction of Binance Wealth, highlighting Binance’s expertise in facilitating institutional adoption of cryptocurrency assets. She also mentioned the banking triparty solution, which mitigates counterparty risk for institutional investors by holding their trading collateral in the form of traditional assets with a partner bank. This solution is yet another industry-first initiative by Binance to support traditional and institutional users in their transition to digital assets.
For more information, please visit binancewealth.com.
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