Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZ cryptocurrency investment platform launches

NZ cryptocurrency investment platform launches

FOR IMMEDIATE RELEASE: 20 March 2018

A New Zealand-based financial services company is launching a cryptocurrency portfolio investment platform designed to make the exciting asset class accessible to everyone.

The new platform, called Invsta, is in pre-beta testing and will be live to the general public later this year.

It’s being created by online financial services company, Ilumony, which is taking part in the Lightning Lab accelerator for FinTech, sponsored by Kiwibank.

Watch Rachel Strevens talk about Invsta.

Alternative cryptocurrencies to Bitcoin (“altcoins”), such as Ethereum and Ripple, have been in the spotlight in recent months with huge gains made late last year.

This has spurred investor interest but high barriers of entry into crypto-investing — such as fraud risks, complicated exchange processes, and unsettling volatility — has made the asset class untouchable for many.

Invsta has been developed to make crypto accessible to everyone. The cloud-based investment platform offers a range of crypto-traded portfolios (CTPs) to help the wider public easily and confidently invest into a diverse range of cryptocurrencies and strategies.

Founders Rachel Strevens and Abhy Singla say the progression from traditional investment assets to include cryptocurrencies was a natural step.

“We were getting a lot of interest and questions coming through from our traditional investment customers about cryptocurrencies, wanting to know if we could help them invest in them,” Strevens says.

“Globally, we discovered there’s huge interest to invest in cryptocurrencies, but the majority of people just don’t know how to buy into the market, who to listen to, and what to trust.

“Although there’s been a lot of hype and speculation around cryptocurrencies 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 want to give our customers the opportunity and appropriate guidance to invest in tomorrow’s money, today.”

CTO Singla has many years’ experience investing and trading in cryptocurrencies, so understands the pain points people are facing.

“We took 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," he says.

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.

“HFTs trade throughout the day across multiple different crypto currencies, based on a large number or pre-defined parameters,” Singla says.

“Basically, they allow people to trade crypto without them actually having to do the trading themselves. I’m very excited about our HFT algorithm portfolios and the level of sophistication that these can add to a cryptocurrency investment strategy.

“It’s great to be able to make these kind of heavy-duty tools available to the general public via our platform.”

Invsta is currently in pre-beta testing with early users. Interested people can join the waitlist at invsta.com for early access to the beta product release, expected within the coming months.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

NZ's Space Programme: Rocket Lab Launches NASA Satellites

On Sunday, December 16, 2018 UTC, Rocket Lab’s Electron launch vehicle successfully lifted off from Rocket Lab Launch Complex 1 on New Zealand’s Māhia Peninsula. More>>

ALSO:

Conservation Plan: Celebrity Kiwi Released Into The Wild

One of the nation's most famous kiwi was among four released onto Taranaki Maunga... Atara, a five-year-old male, hatched while David Attenborough's cameras were rolling. More>>

ALSO:

Budget Policy Statement: 'Wellbeing Of NZers At The Heart Of Budget Priorities'

“We want a wellbeing focus to drive the decisions we make about Government policies and Budget initiatives. This means looking beyond traditional measures - such as GDP - to a wider set of indicators of success,” Grant Robertson said. More>>

ALSO:

Short Of 2017 Record: Insurers Pay $226m Over Extreme Weather

Insurers have spent more than $226 million this year helping customers recover from extreme weather, according to data from the Insurance Council of NZ (ICNZ). More>>