Coinhako Launches Crypto Trading Platform for Institutions, High Net Worth Individualsby Fintech News Singapore October 19, 2021
Singapore-headquartered cryptocurrency trading platform Coinhako, has launched a digital assets platform for High Net Worth Individuals (HNWIs) and institutions dubbed as ‘Coinhako Privé’.
Privé members will need to qualify as accredited investors and have a minimum of SGD 300,000 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 SGD 100,000 or above in annual crypto trading volume.
Members of the Coinhako Privé platform will get 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 access to trading history.
Boosting customer confidence in crypto trading, Privé said that the platform is outfitted with the best-in-class security solutions in the digital assets and financial services space, to ensure that assets are always safe.
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.
Privé clients will also gain access to API trading which they can use to execute high performance cryptocurrency trades.
Coinhako reports that it has seen a 1000 percent 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.
Currently, Coinhako offers a wide selection of over 40 digital assets.
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.
“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 and CEO, Coinhako.