Binance moves to help ultra-wealthy invest big in crypto
The world’s ultra-rich face a challenge: they want to invest a big chunk of money in cryptocurrency, but most traditional banks aren’t providing them with comprehensive support beyond a few exchange-traded funds (ETFs).
Binance’s head of VIP and Institutional, Catherine Chen, saw this as an opportunity to help through Binance Prestige — a new offering that complements Binance Wealth for high-net-worth individuals (HNWIs).
“Oftentimes, when you speak to private banks, they will say there’s no significant demand for crypto beyond an ETF,” Chen said in an interview with CoinDesk.
For her, it is a kind of “chicken and egg problem” when it comes to bridging the gap between wealthy clients and crypto, as private banks and…
