Binance has introduced an innovative crypto solution that will meet the crypto needs of wealth managers.
The inaugural crypto exchange solution for wealth managers has been launched by the world’s largest crypto exchange by trading volume.
This initiative will be comparable to conventional wealth management, per the exchange. This action could also reinforce the exchange’s position as a leader in the cryptocurrency industry.
Introduction of “Binance Wealth”
Binance Wealth, the first technological solution for wealth administrators on a crypto exchange, was announced in a press release by the crypto exchange.
Wealth managers can supervise their clients’ onboarding and provide investment recommendations through this service, guaranteeing that these clients receive extensive support during the onboarding process.
Wealth managers will also maintain complete discretionary control comparable to conventional wealth management services. Wealth managers must initially apply to obtain access to the company’s Wealth program.
They can assist their clients with onboarding into the crypto space once their application has been approved.
These consumers must submit the requisite KYC/KYB documentation for verification. Upon boarding, these clients can manage their investments and receive guidance from their wealth managers regarding the most suitable investment decisions.
