Binance Launches Binance Wealth, First-Ever Crypto Infrastructure for Wealth Managers

Binance (BNB), the world's leading cryptocurrency exchange, announces the release of Binance Wealth, the first crypto exchange technological solution for wealth managers. The exchange has begun onboarding of clients and welcomes all Web2 fund managers to explore crypto opportunities.

Binance Wealth kicks off, starts onboarding HNW individuals

According to an official statement by Binance (BNB), a global cryptocurrency exchange with over 230 million customers, it kicks off Binance Wealth, a first one-stop solution for wealth managers in the crypto segment. Binance Wealth allows wealth managers to oversee the onboarding of their clients and make investment recommendations.

From the outset, the new solution will help wealth managers' clients receive strong support during onboarding and thereafter, while retaining full discretionary control, akin to traditional wealth management.

According to its terms of service, wealth managers must first apply to access Binance Wealth. After being successfully onboarded, they can then help support their clients’ onboarding journey by submitting the necessary KYC/KYB documentation for verification.

Once all checks are passed, onboarded clients can then manage their own investments directly, as well as receive recommendations from their wealth managers for their review and approval.

Binance Wealth is the first crypto exchange solution enabling wealth managers to address their high-net-worth clients’ interest in exposure to this new asset class. 

Better solutions for institutional adoption of crypto

Catherine Chen, Head of Binance VIP & Institutional, is excited about the opportunities the new release unlocks for wealthy clients across the globe and for the Web2-to-Web3 transition as well:

As investors worldwide recognize the potential of digital assets, we are responding to wealth managers and their clients asking for a solution to more easily access crypto. 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. Binance Wealth will reduce the entry barrier for more market participants to access this new asset class and help bridge crypto and traditional finance.

Binance is meeting demand from the private wealth segment, which prefers to diversify its portfolios with the support of trusted wealth managers.

Designed by Binance’s global team of industry-leading crypto and traditional financial experts, Binance Wealth significantly reduces the barriers to entry for wealth managers and their high-net-worth clients who are looking for digital assets exposure.