Binance Expands Into Private-Bank-Style Services With New Prestige Program

Binance has launched a new concierge service called Binance Prestige, a private-client program designed for investors who manage around $10 million or more in digital assets. The service gives wealthy clients direct access to senior support teams, portfolio guidance, and tools that mirror private banking in traditional finance.

What Is Binance Prestige?

Binance Prestige is an exclusive service tier for ultra-high-net-worth clients. It expands on Binance’s existing VIP structure by creating a direct, hands-on support model that resembles private banking.

The service is designed for:

• Family offices handling multi-asset portfolios
• Wealth managers overseeing complex client accounts
• Private funds that need institutional-grade systems
• High-net-worth individuals with large crypto holdings
• Traders operating with deep liquidity requirements

Prestige does not require a fixed minimum balance, but Binance expects most users will manage about ten million dollars in digital assets.

Why Did Binance Launch Prestige?

Growing demand from wealthy clients has pushed major financial institutions to adapt traditional private-bank models for digital assets. Binance says it sees the same shift in crypto.

Catherine Chen, head of Binance VIP and Institutional, explained that wealthy clients want the same level of guidance they receive in traditional finance. These clients often face complex onboarding processes, fragmented custody solutions, and unfamiliar digital tools. Binance Prestige aims to streamline these challenges.

Wealth managers worldwide are also adjusting. A recent Avaloq survey found that more than half of wealth management professionals now view digital assets as essential for client engagement. This is a notable increase from 44 percent the previous year.

Markets in Asia and the Middle East show especially strong interest. Wealthy families and private funds in Singapore, Hong Kong, and the Gulf region are increasing their crypto exposure, often using structured products and managed portfolios.

What Problems Does Binance Prestige Solve?

Ultra-wealthy investors entering crypto often face challenges that smaller investors do not experience. Prestige tries to address these issues through a centralized, managed approach.

Common pain points include:

• Multi-platform custody
• Fragmented liquidity
• Inconsistent reporting standards
• Difficult onboarding workflows
• Lack of institutional support
• Unfamiliar tokenomics and asset classification
• Need for structured investment options
• Complex inheritance or estate planning considerations

Binance has said it is exploring how inheritance planning could be added in the future, reflecting a need that traditional private banks already address.

Is Binance Prestige Available Worldwide?

Not yet. Binance Wealth, the tier below Prestige, is active in Asia and Latin America but unavailable in several jurisdictions including the United States. Binance has not provided full details on Prestige’s geographic availability, but the exchange typically avoids jurisdictions with regulatory restrictions.

Key Features of Binance Prestige

Prestige provides six core service pillars designed to support the entire client lifecycle. Each pillar focuses on functional needs rather than promotional claims.

1. Tailored Onboarding

High-net-worth investors often face multi-step verification and operational challenges. Prestige assigns dedicated staff to guide clients through account setup, compliance checks, and custodial arrangements.

2. Fiat Access

Clients can move between fiat and digital assets using institutional channels. This is essential for family offices that manage mixed portfolios and must meet reporting and liquidity requirements.

3. Structured Products

Prestige offers access to structured investment products that mirror solutions found in private banks. These may include yield-linked strategies, exposure to reference assets, or products tied to market performance.

A recent real-world example is JPMorgan’s filing to issue auto-callable notes linked to BlackRock’s Bitcoin ETF, a type of structured product often used by wealthy investors.

4. Capital Financing

Clients can access secured financing options using digital assets. These facilities support liquidity management, hedging, and operational needs for family offices and private funds.

5. Custody Solutions

Prestige supports institutional-grade custody. This includes segregated accounts, audited controls, and oversight practices inspired by major custodians such as Fidelity Digital Assets.

6. Insights and Reporting

Prestige provides detailed reporting tools for compliance teams, auditors, and portfolio managers. These tools help match the standards expected in private-banking environments.

How Does Binance Prestige Compare With Existing Binance Services?

Binance Prestige is built above Binance Wealth, a service launched last year for high-net-worth individuals and financial advisors.

Binance Wealth focuses on:

• Strategy proposals
• Portfolio suggestions
• Multi-asset workflow support

Clients still make their own decisions. The model mirrors common advisory structures in traditional finance.

Prestige, by contrast, targets clients with more complex needs. It offers a more personal and direct relationship model, including hands-on, concierge-style guidance.

Binance also operates VIP Holder accounts, with four tiers based on trading activity and BNB holdings. Prestige does not replace these tiers. Instead, it expands the highest tier by adding a more personal and institutional-grade service layer.

How Does Binance Prestige Compare With Competitors?

Several platforms already offer services for institutions or wealthy investors. Binance is entering a competitive field that includes:

• Coinbase Institutional, which provides custody, trading, and compliance tools.
• Kraken Institutional, known for its OTC services and compliance features.
• Fidelity Digital Assets, a subsidiary of Fidelity Investments, which offers audited custody and integrated trading for professional clients.

Traditional wealth managers are also offering crypto-linked products. Morgan Stanley and JPMorgan already provide access to Bitcoin ETFs and other crypto-related products for wealthy clients. JPMorgan’s recent filing for auto-callable notes linked to BlackRock’s Bitcoin ETF shows continued interest in structured crypto exposure.

Why Wealthy Investors in Asia and the Middle East Matter

Family offices in Singapore, Hong Kong, and the Middle East are driving much of the global demand for institutional crypto services. Several factors contribute to this trend:

• Expanding digital-asset regulations
• Tax policies that encourage fund formation
• Access to regional crypto hubs
• Growing interest in tokenization and staking
• Demand for structured products tied to crypto assets

Recent reporting supports this shift. Reuters stated that many family offices in Asia now plan to allocate around 5 percent of their portfolios to digital assets. Some funds have also delivered significant returns. For example, a long-short crypto equity fund launched in Singapore generated 375 percent over two years before raising more than one hundred million dollars for a new vehicle.

Singapore and Hong Kong are also competing to attract digital-asset firms. Singapore leads in blockchain patents, crypto jobs, and the number of exchanges, according to a study by ApeX Protocol. Hong Kong recently expanded its virtual-asset framework to support stablecoin licensing, tokenized bonds, and broader real-world-asset tokenization through its LEAP framework.

Conclusion

Binance Prestige is a concierge-style crypto service for family offices, wealth managers, private funds, and individuals who manage large digital-asset portfolios. It provides personal support, structured products, fiat access, custody tools, and detailed reporting that match expectations found in private banking.

The service reflects growing demand from wealthy investors who want institutional-grade solutions when entering crypto markets. It also positions Binance to compete with major custodians and financial institutions that now offer digital-asset services. 

Resources

1. Binance Prestige platform: About Binance Prestige

2. Report by CoinDesk: Binance Introduces Bespoke Service for Ultra High-Net-Worth Crypto Investors

3. Report by CoinTelegraph: Singapore, Hong Kong stand out among blockchain heavyweights

4. Report by Reuters: Asia's wealthy investors seek more crypto in portfolios