The deVere Group says the launch will meet “soaring global demand”.
A cryptocurrency app is to be launched by one of the world’s largest independent financial services organisations, the deVere Group due to “soaring global demand”.
deVere Crypto is the deVere Group’s second fintech venture offering in less than 12 months and the firm says it will be available “in a matter of weeks.”
The firm’s founder and CEO, Nigel Green, said: “2017 saw the true dawn of the financial technology era. Fintech is already fundamentally changing the way we access, manage and use money - and the changes are coming quicker than ever before due to improving technologies and growing demand.
“Nothing has captured the imagination in this new fintech age quite like cryptocurrencies, specifically Bitcoin. No-one was really talking about it back in 2016. But those who invested in Bitcoin before the beginning of last year have enjoyed an impressive price increase."
“History will teach us that 2017 was the year that digital currencies came into the mainstream.”
deVere Crypto allows users to store, transfer and exchange five major cryptocurrencies. These include Bitcoin and Ethereum.
Bitcoin has been under pressure in recent weeks and specifically today, falling more than 10 per cent in an hour to reach a six-week low.
Green believes the world has changed in three significant ways that support the rise of cryptocurrencies, however.
“First, technological advancement. We are adopting more and more technology into our lives. And the rate at which we’re doing so is increasing. It’s not just digitalisation or existing technology. From self-driving cars to intelligent robots, advanced new technologies will impact every part of our lives. Our financial lives will be no exception. Tech is now in our DNA.
“Second, political shifts. There is an appetite, a huge and growing one, for currencies that are not controlled by central banks and governments. Supporters believe that these digital currencies are part of the antidote to what they see as the ills caused by the traditional system.
“And third, globalisation. Whether some populist politicians like it or not, globalisation is happening and it’s here to stay. We’re all becoming increasingly interdependent and internationally-minded, and this, when harnessed properly, is an immensely positive force for trade, commerce and prosperity across the world.”