cryptojournalist
Binance is introducing a new service called Binance Wealth, designed specifically for high-net-worth individuals. This service will initially target clients in Asia and Latin America, allowing wealth managers to easily bring these affluent customers onto the platform and provide them with access to a variety of digital assets.
While Binance Wealth is available through the global Binance platform, there are some limitations in certain regions, such as the U.S. Wealth managers can help onboard clients who are eligible to use Binance.com, but this depends on local regulations and their own licensing.
Each client’s assets will be kept in their own dedicated sub-account, ensuring they have full control over their investments. They can also track their assets on Binance’s Proof of Reserves page, which adds a level of transparency that many investors appreciate.
It’s worth noting that the Binance Wealth service doesn’t come with reduced fees. Clients will pay the standard trading fees, but Binance has a competitive fee structure, and those who qualify for the VIP Program can enjoy additional discounts on fees.
