Bybit Launches Private Wealth Management Service for High-Net-Worth Clients

Highlights:

• Bybit has launched a service for wealthy clients that will offer tailored investments.
• Bybit will end its services in France by January 2025 due to strict laws.
• French users are required to withdraw their funds or move them to Coinhouse by January 8, 2025.

Bybit has launched a Private Wealth Management (PWM) service for high-net-worth individuals and institutional clients. The service aims to meet the growing need for cryptocurrency financial solutions tailored to a user’s specific needs. Additionally, the PWM is based on pre formulated strategies designed in accordance with the financial needs of clients.

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Bybit Launches Private Wealth Management Service to Help High Net Worth Clients Invest in Digital Assets#Bitcoin $BTC

— Bpay News (@bpaynews) December 18, 2024

The premium investment opportunities and customized portfolio management are only available at the PWM service. Bybit will use third party custody solutions to ensure that the security of the assets is top tier. The company also provides a customized asset allocation strategy aimed at maximizing returns with minimum risk.

The PWM clients will benefit from real-time market insights. Moreover, this will help them to stay informed on emerging crypto trends. The updates will help clients make timely and informed financial decisions.

Exclusive Features for Clients

The goal of the PWM service is to accommodate the particular requirements of high net worth investors. Moreover, the strategies it provides are tailored to meet the financial objectives of each client. Clients can have access to high return assets designed for their portfolios.

In addition, that service optimizes asset allocation in order to improve returns with the reduction of market volatility exposure. Bybit ensures the security of all digital assets using the strictest measures to prevent breaches or loss.

Clients will regularly receive updates on emerging cryptocurrency trends and market dynamics. It will enable them to stay in front of the fast changing market environment. According to Bybit, these features make the PWM service an ideal way to manage digital assets effectively.

Bybit Ends Services in France

Bybit has announced that withdrawal and custody services for French users will end on January 8, 2025. The decision comes after an increase in regulatory scrutiny from French authorities. All French users on Bybit have been instructed to withdraw their assets before the deadline.

Bybit will close withdrawals for French users

Cryptocurrency exchange Bybit has warned users from France to stop providing all services from January 8, 2025. The company explained the decision with changes in local legislation.#VA_Foundation #news #Bybit #MiCA #cryptocurrency… pic.twitter.com/aPlUuC7fOM

— VA FOUNDATION (@VA_Foundations) December 18, 2024

Bybit will transfer unclaimed funds after January 8 to Coinhouse, a French-licensed cryptocurrency custodian. Users must complete the Know Your Customer (KYC) verification process with Coinhouse to regain access to their funds.

Bybit will not charge fees to transfer funds to Coinhouse or to convert coins into USDC. This is meant to ease the transition for affected users.

Asset Transfers and Verification Process

Users who want to access funds that have been transferred need to verify their identity with Coinhouse. This will ensure compliance with the regulatory standards.

Starting January 8, Coinhouse will charge a monthly custody fee to unverified accounts. In particular, Coinhouse will charge a fee of 0.16% of the value of the asset or 1 USDC. The custodian will continue collecting this service fee until users complete the KYC process. Coinhouse will automatically credit assets for users with verified Bybit account details. Bybit has assured users that the process will be smooth and transparent.

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