Binance launches Binance Prestige, a service exclusively for ultra-high-net-worth crypto investors.

Mars Finance reported on November 26th that Binance announced the launch of a new VIP service for the ultra-high-net-worth (UHNW) market, named Binance Prestige. Binance Prestige provides high-level, professional digital asset management services to family offices, private funds, and other asset allocators. This new service, designed specifically for ultra-high-net-worth clients, complements Binance Wealth, launched a year ago, which primarily targets advisors and wealth managers for high-net-worth clients. According to an Avaloq survey, over half of wealth management professionals believe digital assets play a key role in client interactions, up from 44% last year. Currently, Binance offers special accounts for VIP users; investors must hold over $500,000 in tradable funds and a certain amount of BNB tokens on the trading platform to apply. VIP Holder accounts are divided into four tiers, with tier four being the highest net worth tier. Binance Prestige does not set a hard asset threshold, but its services are mainly aimed at investors with assets of around $10 million, which is roughly equivalent to the amount of funds required to open a private bank account.