Binance has launched ‘Binance Prestige,’ a new service catering to ultra-high-net-worth individuals (UHNWIs), family offices, and institutional asset managers with assets of $10 million or more. The offering aims to provide personalized solutions for managing significant crypto holdings. Binance’s Head of VIP & Institutional, Catherine Chen, emphasized the company’s commitment to meeting the evolving needs of wealthy clients turning towards digital assets. Binance Prestige offers features like personalized onboarding, access to structured products, seamless fiat access, and advanced capital financing options. 24/7 support is also available for institutional-grade custody solutions, offering transparency and informed decision making. Though Binance has not made any funding announcements directly related to the service launch, it’s expected to primarily serve high-asset clients similar to private banking. This service builds on Binance’s existing institutional infrastructure while ensuring compliance with traditional finance standards. The impact of the launch on the crypto market is limited as the focus is on client onboarding and asset management rather than introducing new tokens or capital investments. The community and regulatory landscape have reacted neutrally, without policy changes or any major actions related to the service launch. This move reflects Binance’s broader strategy to enhance offerings for institutional players, aiming to increase their overall engagement within the crypto ecosystem.