Binance launches exclusive service Binance Prestige for ultra-high-net-worth crypto investors

Binance announced on Wednesday the launch of a new VIP service aimed at the ultra-high-net-worth (UHNW) market, named Binance Prestige. Binance Prestige provides high-level, specialized digital asset management services for family offices, private funds, and other asset allocators.

This new service, designed specifically for ultra-high-net-worth clients, complements Binance Wealth, which was launched a year ago and primarily targets advisors and wealth managers for high-net-worth clients. According to a survey by Avaloq, over half of wealth management professionals believe that digital assets play a key role in client interactions, up from 44% last year.

Currently, Binance offers special accounts for VIP users, where 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 level. Binance Prestige does not set a hard asset threshold, but the service mainly targets investors with assets around $10 million, which is roughly equivalent to the funding level required to open a private banking account.