BlockBeats News, November 26, Binance announced on Wednesday the launch of a new VIP service 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, professional digital asset management service.
This new service designed for ultra high net worth clients complements Binance Wealth, launched by Binance a year ago, which mainly targets high net worth client advisors and wealth managers. 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 provides special accounts for VIP users, with investors needing 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, but the service is mainly targeting investors with around $10 million in assets, roughly equivalent to the level of funding required to open a private banking account.
