Scalable Capital launches crypto
The worlds of crypto and fintech are continuing their collision.
Digital wealth manager and neobroker Scalable Capital is launching a new offering for investing in cryptocurrencies.
The company, which started out as a ‘robo adviser’ and now also has a brokerage business as well as a digital wealth white label solution, will offer access to crypto investments via regulated stock exchanges in Germany that trade exchange-traded products (ETPs).
"We make trading crypto as easy as trading shares or ETFs," says Erik Podzuweit, Co-founder and Co-CEO of Scalable Capital.
"Cryptocurrencies are well established as an asset class in a balanced portfolio.”
The move, which is happening through a partnership with CoinShares, is the latest example of the worlds of fintech and crypto colliding as digital assets see growing acceptance.
Crypto ETPs hold digital assets such as Bitcoin, Ethereumin secured cold wallets at regulated custodians and Scalable’s customers do not need to open a separate wallet with the cryptocurrencies held in the form of securities on the customer's existing custody account.
Trading takes place on the exchanges of Xetra (Deutsche Börse) and gettex (Börse München) during regular trading hours.
Scalable is one of the newest fintech unicorns following a $180m (€150m) series E funding round led by Chinese tech giant Tencent in June that pushed its valuation to $1.4bn.