Binance Launches Crypto Service for Wealth Managers

Binance, the world’s largest crypto exchange by trading volume, launched Binance Wealth, a solution designed for wealth managers to integrate cryptocurrency into their services, offering high-net-worth clients a customized approach to exploring the asset class.

Wealth managers can oversee their clients’ onboarding process, including submitting essential Know Your Customer (KYC) and Know Your Business (KYB) documentation to facilitate their transition into the cryptocurrency space.

Once onboarded, clients gain full control over their investments, allowing them to directly manage their portfolios while receiving investment recommendations from their advisors.

Binance Wealth’s user interface features a dashboard that allows wealth managers to monitor their clients’ portfolios, which reduces the learning curve for wealth managers transitioning into the crypto space, according to Binance.

Wealth managers can expose their clients to a range of cryptocurrencies besides Bitcoin and Ethereum. The available options allow clients to explore various trading and earning options to cater to different investment strategies, whether active or passive.

“Unlocking capital inflow is key to making digital assets mainstream but there has long been a lack of traditional infrastructure for the private wealth segment to gain exposure to crypto,” said Catherine Chen, head of Binance VIP & Institutional. “Binance Wealth will reduce the entry barrier for more market participants to access this new asset class and help bridge crypto and traditional finance.”