Binance launches concierge crypto service for wealth managers, family offices

Binance just dropped a VIP crypto concierge service targeting family offices, asset managers, and private funds dipping their toes into digital assets for the first time.

The new Binance Prestige service offers: personalized onboarding with dedicated managers, support for over 100 fiat currencies, access to tailored structured products, credit lines, institutional-grade custody through partnered custodians, and real-time analytics/reporting tools giving pro investors full portfolio visibility.

Binance says this is their answer to 'affluent investors' from traditional finance who are entering crypto markets but don't know how to navigate the space effectively.

While Coinbase and Kraken already offer institutional platforms, Binance's real competition here comes from wealth managers like Morgan Stanley and crypto custodians like Fidelity Digital Assets (Fidelity Investments' crypto arm offering audited custody controls and integrated trading for institutions/HNW clients).

Meanwhile, JPMorgan just filed with the SEC to issue auto-callable, accelerated barrier notes linked to BlackRock's iShares Bitcoin Trust ETF (IBIT) - structured derivative products typically geared toward sophisticated or high-net-worth investors.

Reuters reported in August that family offices and wealthy investors in Hong Kong, mainland China, and Singapore are increasing their digital asset exposure, with many planning to allocate around 5% of their portfolios to crypto.

Jason Huang, founder of NextGen Digital Venture, raised over $100 million in months for a new long-short crypto equity fund launched in Singapore in May, following a previous fund that delivered a 375% return in under two years.

Singapore and Hong Kong are battling for regional crypto hub status. A December 2024 study by ApeX Protocol found Singapore leading across metrics like blockchain patents, industry jobs, and number of crypto exchanges operating in the country.

Hong Kong expanded its virtual asset framework in June to permit crypto derivatives trading for professional investors and introduced tax adjustments aimed at attracting digital asset funds and family offices.

The city also launched its LEAP framework that month, setting the stage for licensed stablecoin issuance, tokenized bonds, and broader RWA tokenization.