Cryptocurrency investment platform debuts in NZ
- 21 March, 2018 13:43
New Zealand-based financial services company Ilumony has launched a cryptocurrency portfolio investment platform that is it says is designed to make the cryptocurrency investment accessible to everyone.
Ilumony — which is taking part in the Lightning Lab accelerator for Fintech, sponsored by Kiwibank — says the platform, Invsta, is in pre-beta testing and will be live to the general public later this year. In the meantime anyone interested can join a wait list.
Ilumony says its cloud-based investment platform offers a range of crypto-traded portfolios to help the wider public easily and confidently invest into a diverse range of crypto currencies and strategies.
“Through the Invsta platform, customers can easily set up an account and access a range of cryptocurrency portfolios and strategies, including two high-frequency-trading (HFT) algorithm-based portfolios, with more in the pipeline.”
Ilumony cofounder and CTO Abhy Singla said: “HFTs trade throughout the day across multiple different crypto currencies, based on a large number or pre-defined parameters.
“Basically, they allow people to trade crypto without them actually having to do the trading themselves.”
Cofounder and CEO Rachel Strevens said Ilumony had been getting a lot of interest and questions from its traditional investment customers about crypto currencies, wanting to know if it could help them invest .
“Globally, we discovered there’s huge interest to invest in crypto currencies, but the majority of people just don’t know how to buy into the market, who to listen to, and what to trust,” she said.
“Although there’s been a lot of hype and speculation around crypto currencies recently, we see this as an emerging asset class that will mature and become more important in coming years.
“The underlying technology behind them all — blockchain — could be as revolutionary as the internet. We wanted to give our customers the opportunity and appropriate guidance to invest in tomorrow’s money, today.”
Singla said Ilumony had “taken our cryptocurrency experience, applied traditional investment market principles and expertise to help reduce the risk, and combined this with powerful machine learning algorithms to provide a really simple, yet diversified approach to cryptocurrency investing.”