Core Insights - The ultra-rich are eager to invest significantly in cryptocurrency, but traditional banks are not providing adequate support beyond a few ETFs [1][2] - Binance has launched Binance Prestige to cater to high-net-worth individuals (HNWIs) seeking comprehensive crypto investment solutions [1][5] Group 1: Demand for Crypto Investment - There is a growing trend among ultra-rich family offices to invest more in cryptocurrency, facing challenges in finding proper support from traditional wealth managers [3] - A survey by Avaloq indicates that 63% of ultra-rich investors in the UAE have switched or are considering switching wealth managers due to the demand for digital assets [3] Group 2: Traditional Wealth Management Challenges - Private banks often claim there is no significant demand for crypto beyond ETFs, highlighting a disconnect between wealthy clients and the offerings of traditional wealth managers [2] - The traditional wealth sector is under pressure to adapt and provide digital asset solutions to meet the needs of wealthy clients [3] Group 3: Evolution of Crypto Investment Preferences - Initially, many family offices treated crypto investments similarly to venture capital, with only a small subset investing in spot crypto [4] - As awareness of cryptocurrency as an asset class has grown, more family offices are questioning whether they should have invested in crypto earlier, indicating that ETFs may not suffice for their needs [5] Group 4: Binance Prestige Offering - Binance Prestige aims to provide a white-glove service for ultra-rich clients, offering personalized guidance through the onboarding process and facilitating their first crypto purchases [6] - The service will tailor crypto purchases based on clients' backgrounds, investment profiles, and risk appetites, ensuring a customized approach to crypto investment [6]

Core Insights - Binance has launched a new VIP offering called Binance Prestige, targeting the ultra high-net-worth (UHNW) market segment [1] - The service is designed to meet the needs of family offices, private funds, and asset allocators seeking a professional approach to digital asset management [2] Market Trends - Over 50% of wealth management professionals now view digital assets as essential for client engagement, an increase from 44% the previous year [3] - The demand for assistance in crypto investments among wealthy clients, particularly in Asia and the Middle East, is rapidly growing [3] Service Features - Binance Prestige does not have a set minimum asset holding requirement but is expected to cater to investors with around $10 million in assets [5] - The service includes six core pillars: onboarding, fiat access, structured products, capital financing, custody, insights, and reporting [6] - Future considerations for the service may include inheritance planning [6] Client Support - Binance aims to provide a high-touch service while clarifying that it is not a bank and will not set up trusts for clients [7] - The focus is on guiding clients through the investment process and making them aware of available tools to achieve their financial goals in crypto [7]