● Privé offers world class API, instant RFQs, zero trading fees
● Mass affluent keenly interested in crypto but unfamiliar with how to access it
● Accredited individual investors
● Institutional investors with SGD100,000 or above in annual trading volume
Singapore-headquartered cryptocurrency trading platform Coinhako, has launched ‘Coinhako Privé’, digital assets platform for High-Net-Worth-Individuals (HNWIs) and institutions.
Coinhako Privé members will enjoy access to institutional grade digital asset services and white glove services, such as a dedicated relationship manager, personalised support from a team of industry experts, and zero trading fees. While providing competitive real-time pricing and flexible trading sizes, Privé also supports instant Request for Quotes (RFQs), 24/7 settlement processes, and 24/7 access to trading history.
Boosting customer confidence in crypto trading, Privé is outfitted with the best-in-class security solutions in the digital assets and financial services space, to ensure that assets are always safe. Privé clients will also gain access to API trading which they can use to execute high performance cryptocurrency trades.
“Privé was born to offer a detailed suite of services for institutions and HNWIs, enabling them to better manage their digital assets on a trusted platform. Other exchanges in Singapore have focused on retail solutions; we saw the opportunity to provide services for institutional clients. Not only that, institutions and HNWIs in Singapore are very interested to trade in crypto, but many lack the understanding to do so. We have developed Coinhako Privé to provide a more personalised hi-touch service to best serve this customer base,” said Yusho Liu, Cofounder & CEO, Coinhako
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“Security is a top priority. We are regularly audited by 3rd party security firms, utilize multi-signature to authorize transactions and hold a significant amount of assets offline. We want to ensure that our clients have peace of mind as they come onboard with us,” added Yusho.
The process of signing up to Privé also ensures platform security. Current Coinhako users, who are already verified and have completed their Know Your Customer (KYC) process, will need to submit additional financial documents for further screening. If they are not Coinhako users, they will first need to sign up for a Coinhako account and complete the regular KYC before they go through the rest of the screening process to join Privé. A relationship manager will be in touch with the applicants throughout the onboarding process.
Potential Privé members will need to qualify as accredited investors[1] and have a minimum of SGD300,000 in annual income or two million in net personal assets, or one million in net financial assets. Privé is also looking to serve institutions that invest SGD100,000 or above in annual crypto trading volume.
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Coinhako will evaluate client portfolios and overall outlook, offering Privé membership to those interested in scaling up their trading volumes as they become more comfortable with crypto.
Institutions offering crypto services to their own clients will easily be able to manage client settlements and trade requests alongside their own in a single location, add multiple bank accounts to handle settlements in different currencies, and manage crypto addresses for different tokens.
Coinhako has seen a 1000 per cent increase in trading volume for the first eight months of 2021, with over 300,000 registered users in Singapore and an average of 150,000 monthly active users based on year-to-date data. It projects that its trading volume could cross the ten billion dollar mark by the end of the year, driven by growing interest for cryptocurrencies in Singapore and the rest of Southeast Asia. Currently, Coinhako offers a wide selection of over 40 digital assets.
Privé is another initiative by Coinhako to instil crypto confidence in a wider demographic through channels that appeal to institutional and individual interests.
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