Binance Launches Binance Prestige, an Exclusive Service for Ultra High Net Worth Cryptocurrency Investors

On Wednesday, November 26, Binance announced the launch of a new VIP service specifically targeting the Ultra High Net Worth (UHNW) market, named Binance Prestige. Binance Prestige is aimed at family offices, private funds, and other asset allocators, providing a high-level and professional digital asset management service. This new service designed for ultra high net worth clients complements Binance Wealth, which was launched by Binance a year ago and mainly targets high net worth client advisors and wealth managers. According to a survey by Avaloq, more than half of wealth management professionals believe that digital assets play a key role in client interactions, an increase from 44% last year. Currently, Binance provides special accounts for VIP users. Investors need to hold over $500,000 in tradable assets on the trading platform and a certain amount of BNB tokens to apply. VIP Holder accounts are divided into four levels, with the fourth level being the highest net worth level. Binance Prestige does not set a strict asset threshold. However, the service is mainly targeted at investors with approximately $10 million in assets, which is roughly equivalent to the level of funding required to open a private banking account.