Crypto Wealth: Binance moves to help ultra-wealthy invest big in crypto

Binance is introducing 'Binance Prestige,' a new service designed to facilitate significant cryptocurrency investments from ultra-high-net-worth individuals and family offices. Catherine Chen, Binance’s head of VIP and Institutional, noted that many traditional banks lack the infrastructure to support large-scale crypto investments beyond ETFs, creating an opportunity for Binance. The service will provide a 'white-glove' approach, including personalized onboarding, fiat-to-crypto bridging, and tailored investment strategies based on client risk profiles. Binance Prestige will also offer access to yield-generating products like Binance Earn, while acknowledging that DeFi may be too risky for this clientele. Custody options will range from utilizing Binance’s security standards to third-party custodians and banking tri-party arrangements, addressing a key concern for high-value investors. The platform aims to provide sophisticated financial instruments and cater to the growing demand for crypto among the world’s wealthiest individuals, and may eventually include wealth succession planning.

(Source：CoinDesk)