Binance crypto exchange has announced the launch of Binance Prestige, a VIP service designed to support the traditional finance (TradFi) affluent segment take their first steps into crypto.
Binance Prestige has been designed to meet the needs of family offices, private funds, and other asset allocators who want a high-touch, professional approach to managing crypto assets.
Catherine Chen, head of Binance VIP and Institutional stated, “We see family offices and investors with a more traditional background that are very curious about crypto and who expect the type of support and services they get in traditional finance [..] “A repeated pain-point for wealthy yet cautious investors is having to jump through multiple hoops to become a crypto client, rather than being guided directly with the type of hand-holding these sort of investors expect.”
Binance Prestige refrains from offering bank-like services
There is no set minimum asset holding size required to qualify for Binance Prestige. However, the service will likely cater to investors with as much as $10 million in assets under management. This aligns with the level of funds required to open a private banking account.
However, Chen explained that, although Binance offers a high-touch service, it is still not a bank. For instance, they won’t set up the Trust for the client. Instead, they ensure that clients are aware of all the tools available that can help them achieve their investment or financial planning goals in crypto.
Binance Prestige primarily caters to the highest level of net worth in the VIP bracket. It has six service pillars to provide comprehensive end-to-end coverage: onboarding, fiat access, structured products, capital financing, custody, insights and reporting.
Binance Prestige complements Binance Wealth, which the exchange launched about a year ago. It caters to advisors and wealth managers for the mass affluent market. However, unlike Binance Wealth, Binance Prestige is for affluent investors and asset allocators who prefer to invest directly, offering a high-touch service tailored to their unique needs.
Binance currently offers special VIP Holder accounts, which investors qualify for by holding over $500k to trade on the exchange and possessing an adequate number of BNB tokens. The positive market response to Binance Wealth, combined with a 32% increase in institutional trading volume on Binance from Q2 to Q3 this year, explains the rising demand.
“Binance Wealth’s ability to cater to the unique needs of the wealth segment has validated our specialized, high-touch service offerings. As more affluent individuals and professional asset managers increasingly embrace digital assets, we saw an opportunity to deliver an even more bespoke solution tailored to the needs of this growing market segment,” said Chen.
Binance to incorporate inheritance planning into Binance Prestige
Before the market crash, the Crypto Wealth Report 2025 by Henley & Partners reported that the global population of crypto millionaires had reached 241,700, a 40% increase from the previous year.
Holders with portfolios exceeding $1 million in BTC increased by 70% to 145,100 year-over-year. At the upper end, 450 individuals now hold at least $100 million in crypto, while 36 billionaires control even larger stakes.
The report also ranked Singapore, Hong Kong, the US, Switzerland, and the UAE as the top five destinations for digital asset investors.
According to Chen, helping wealthy clients as they begin investing in crypto, particularly in places like Asia or in the Middle East, has become one of the fastest-growing segments within the digital asset industry.
Binance has also revealed that it is exploring how areas like inheritance planning can be incorporated into the Binance Prestige service.
Meanwhile, there has been a 44% rise in wealth management professionals who now see digital assets as key for client engagement, according to an Avaloq survey. The UAE is one of the regions with the highest numbers of crypto investors. Of the 39% of wealthy clients holding crypto, 20% of those crypto investors used a traditional wealth manager.
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Source: https://www.cryptopolitan.com/binance-launches-binance-prestige-service/
