Binance launched Binance Wealth, a solution designed specifically for wealth managers. This initiative enables wealth advisors to integrate cryptocurrency into their services, offering high-net-worth clients a customized approach to exploring this rapidly evolving asset class.

Client Onboarding Process

With Binance Wealth, wealth managers can reportedly oversee their clients' onboarding process, including submitting essential Know Your Customer (KYC) and Know Your Business (KYB) documentation to facilitate their transition into the cryptocurrency space.

Once onboarded, clients gain full control over their investments, allowing them to directly manage their portfolios while receiving personalized investment recommendations from their advisors.

Binance Wealth’s user interface features a dashboard that allows wealth managers to monitor their clients’ portfolios effectively. This design reportedly reduces the learning curve for wealth managers transitioning into the crypto space.

Wealth managers using Binance Wealth can expose their clients to a range of cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term besides Bitcoin and Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term. The available options reportedly allow clients to explore various trading and earning options to cater to different investment strategies, whether active or passive.

Addressing Crypto Adoption

By addressing the traditional barriers that have hindered the adoption of digital assets among high-net-worth individuals, Binance is not only enhancing the services available to wealth managers but also facilitating a broader acceptance of cryptocurrencies in the financial ecosystem.

Last month, the exchange launched a pre-market spot trading feature to enable crypto investors to trade digital assets before their official market listing. According to the official statement, this offering allows users to access digital assets generated from selected Launchpool projects before their spot market listings.

Binance mentioned that this approach targeted Launchpool participants and promised to expand the trading space for all Binance users. The feature provides early access to potential investments by enabling users to establish positions before the tokens are listed widely.

In June, Binance relaunched Mastercard payments for crypto purchases. This followed Mastercard’s pause on the service last year due to legal challenges facing the crypto exchange in the US.

According to Binance, the decision was arrived at after reviewing the processes that the crypto giant had implemented. Mastercard launched support for Binance-based purchases on its platform with plans to support other services, such as withdrawals.