Connect with us

Crowdfunding

DeFi focused Wealth Management Platform YIELD App Reports Strong H1 2021, with 45,000+ Users

Published

on

The team at YIELD App, the developers of a fast-growing wealth management platform for digital assets, has published their second progress report – which reveals that users for their app have doubled while assets have increased by 3x since the last update.

The YIELD App team writes in its report that since they launched in February 2021, their mission has been to make the high-yielding world of digital finance accessible to everyone. They’ve seen over 45,000 users join them (45,076 to June 30, 2021) in order to earn “stable and consistent” passive income on their crypto-asset holdings. This is up considerably from around 26,000 users at the end of March 2021, representing total “growth of 73% over the second quarter of the year,” the report revealed.

It also mentioned:

“Together, these users have entrusted us with $145.8 million of assets excluding YLD as of June 30, 2021. This is more than a three-fold increase from $45.7 million at the close of the first quarter of this year. Including YLD, on-platform assets stand at $163.6 million as of 30 June 2021.”

The DeFi solution provider further noted that the launch of their Ethereum (ETH) fund in March was a “particular success.” As of June 30, 2021, YIELD App is managing 43,255 ETH valued at around $90.8 million (at the time the report was released). This figure compares to 19,000 ETH “at the end of March, which then had a market value of around $32.4 million and today is valued at circa $39.9 million.”

The YIELD App team pointed out that their stablecoin strategy has continued to attract more assets. The total amount of USD Coin (USDC) held on their platform currently “stands at $32.4 million, while USD Tether (USDT) stands at $22.5 million.” This is up “from $8.6 million and $5.7 million respectively at the end of the first quarter of the year,” the report confirmed.

As stated in the report:

“This strong growth is thanks in no small part to our high and market leading annual percentage yield (APY) of 20% on these assets, which we have maintained since our beta-launch in December 2020 and which continues to swell our community.”

The YIELD App APY structure and Tier Rewards Program mean that users are “rewarded in part with [their] YLD token, with those that hold more YLD tokens in their wallet earning higher overall APYs,” the company explained. Since their launch, they’re pleased to confirm that more than 7.5 million YLD tokens have now been earned by their users, with “a current market value of $2.2 million.”

As a key part of their ongoing work to support the YIELD App ecosystem and ensure that it “continues to thrive,” over 17.1 million YLD tokens have now been “rebalanced” via their treasury rebalancing program. This is up “from 1.4 million as of March 28, showing strong and sustained activity throughout the second quarter,” the report revealed.

Users are able to monitor their rebalancing program through this address. The last 3 months have seen YIELD App extend their high-yield offering to “a growing number of corporate clients.”

YIELD App is now assisting over 30 businesses with managing their corporate treasuries, which includes cryptocurrency gaming platform Lepricon, which they partnered with in April 2021. This is an “important and significant expansion for YIELD App, demonstrating our commitment to making stable, reliable and rewarding investment strategies available to everyone.”

The report continued:

“It is also a testament to the growing interest in cryptocurrency that exists among companies, and not just those in the cryptocurrency, FinTech, and digital spaces. Indeed, this quarter has seen YIELD App partner with one of Europe’s most established private membership clubs.”

The company further revealed that their partnership has seen YIELD App introduce an educational webinar series for the company’s staff in their “quest to help raise standards in support of education, inclusion, and participation in the rapidly expanding digital economy.”

Staff will be onboarded to their platform during H2 2021, with attractive DeFi investment offerings and incentives sponsored by the company. Details about this offer should be announced in the coming weeks.

As noted by the wealth management firm:

“The second quarter has also seen YIELD App move further along on its regulatory journey. We completed our Estonian acquisition and reactivation of the virtual currency license for YIELD App OÜ, paving the way for the introduction of new services including FIAT-CRYPTO-FIAT swaps, among others.”

The company also noted that regionally, they’ve initiated a dialogue with “a leading Tier 1 European regulator for registration and approval as a licensed Digital Asset Service Provider.” The company is currently reviewing “additional categories of licensing within Europe to provide suitable regulatory oversight of our growing suite of products and services.”

The report further revealed:

“Globally, we have completed the incorporation of our Managed Fund entity in Cayman: TGT LP, advised by our Cayman Island Monetary Authority S.I.B.A. registered and approved investment manager, YIELD DFAS.”

The report added that “as we have seen in recent months, scrutiny of exchange platforms and services has grown significantly, particularly with respect to minimum standards and best practices for Know Your Customer (KYC) and Anti-Money Laundering (AML) monitoring and reporting.”

The company also mentioned that YIELD App’s development team is now focused on working through the “automation of new enhanced KYC features, including live video interviews and additional API integration with our blockchain analysis partners.”

The YIELD App team added:

“As with all regulated businesses and sectors, the license application and approval process can be lengthy. Increased interest in DeFi, crypto trading markets, and the passive income sector coupled with central banks’ growing interest in issuing their own digital currencies have increased the need for responsible, forward-thinking cryptocurrency businesses to be licensed and operate to the highest standards.”

To support its compliance and regulatory efforts, YIELD App has hired “a highly experienced Global Head of Compliance, who will further support our ambitions and accelerate our global regulatory reach.”

For more details about YIELD App and the exchanges now supporting its token, check here.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/07/177968-defi-focused-wealth-management-platform-yield-app-reports-strong-h1-2021-with-45000-users/

Crowdfunding

Upgrade Adds Bitcoin Rewards Card

Published

on

Upgrade, an online lender, has announced the launch of the Upgrade Bitcoin Rewards Card a new version of Upgrade Card featuring Bitcoin rewards. Under Upgrade’s new program, users may earn unlimited 1.5% Bitcoin rewards on every purchase as they make payments.  The custody and trading platform for holding and selling Bitcoin is provided by NYDIG.

Upgrade has facilitated more than $7 billion in credit to consumers through cards and loans since its inception in 2017. It also offers rewards checking accounts with debit cards that pay 2% rewards on transactions and monthly subscriptions.

Founder and CEO Renaud Laplanche says Upgrade Card is already providing $3 billion in credit to consumers.

“Starting today, anyone can apply for an Upgrade Bitcoin Rewards Card and enjoy the same affordable and responsible credit as with any Upgrade Card, plus the potential upside and fun of owning Bitcoin,” says Laplanche.

As with every Upgrade Card, the Fintech promotes “responsible credit” by turning every balance into a fixed-rate installment plan, and by paying rewards to cardholders as they pay down their balance.

The Upgrade Bitcoin Rewards card is leveraging the growing popularity of crypto by providing a simple path to holding Bitcoin.  Cardholders must hold their Bitcoin rewards for at least 90 days and then may sell at any time subject to a 1.5% transaction fee.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/07/178147-upgrade-adds-bitcoin-rewards-card/

Continue Reading

Crowdfunding

Fidelity Digital Assets Survey Reveals Growing Number of Institutions Plan to Gain Exposure to Crypto-Assets

Published

on

Seven in 10 institutional investors are now expecting to purchase or invest in digital assets in the future, and over 90% of those interested in these financial instruments expect to have an allocation in their institution’s or clients’ portfolios “within the next five years.” This, according to new research from Fidelity Digital Assets’ 2021 Institutional Investor Digital Assets Study.

This forecast confirms a steady acceleration in adoption of digital assets over the next several years as over half (52%) of institutions surveyed across Asia, Europe and the U.S. “currently invest in digital assets.”

Although adoption rates remain fairly high across Asia (71%) when compared to Europe and the U.S., participation “increased in both markets as 56% of European institutions and 33% of U.S. institutions now hold investments in the asset class, up from 45% and 27%, respectively, the prior year.”

Tom Jessop, President at Fidelity Digital Assets, stated:

“The increased interest and adoption we’re seeing is a reflection of the growing sophistication and institutionalization of the digital assets ecosystem/ The pandemic – and fiscal and monetary measures in response to it – has been a catalyst for many institutional investors to define their investment thesis and operationalize it.”

According to the study, nearly 9 in 10 investors find characteristics of digital assets “appealing, with increases in both U.S. and Europe.” Digital assets’ high potential upside and relatively low correlation to other assets have “grown in appeal to institutional investors in recent years, with the potential upside gaining 16 points among U.S. investors since 2019 and 13 points among European investors since 2020.”

Price volatility is still the primary obstacle or barrier to adoption, “followed by lack of fundamentals to gauge value and concerns around market manipulation; however, investors cited less concern about complexity for institutions and market infrastructure than previously.”

Jessop added:

“The expectation that the vast majority of institutions will have some exposure to digital assets by 2026 shows that investors have a deeper understanding of the asset class and have progressed in the three-phase journey from education to adoption.”

Today, almost 8 in 10 institutional investors think that crypto-assets should be part of a portfolio. This belief is “strongest in Asia, where adoption rates are highest; however, European and U.S. institutions are increasingly in agreement”:

  • More than three-quarters (77%) of European investors share this belief, up from two-thirds the prior year
  • 69% of U.S. investors share this belief, compared to 64% the prior year.

Fidelity Digital Assets says they will be exploring the investment outlook and institutions’ investment preferences in another report this fall, “featuring deeper insights from the 2021 Institutional Investor Digital Assets Study.”

As stated in the update:

“As adoption increases, institutional investors are expecting more services from digital asset custodians. Investors want a custodian that offers electronic trading (63%) and market data and analytics (56%), with a greater emphasis on these services among U.S. institutions. Still, security and safety remain the most important features of a custodial relationship, having grown in importance in both Europe and the U.S.”

You may learn more about the institutional market for digital assets and Fidelity Digital Assets’ custody and trade execution platform here.

As noted in the announcement, the blind survey was “executed in association with Coalition Greenwich on behalf of Fidelity Digital Assets and the Fidelity Center for Applied Technology between December 2, 2020 and April 2, 2021.”

The survey included 1,100 institutional investors in the U.S. (408), Europe (393) and Asia (299), “including high net worth investors, family offices, digital and traditional hedge funds, institutional investors, financial advisors and endowment and foundations.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/07/178139-fidelity-digital-assets-survey-reveals-growing-number-of-institutions-plan-to-gain-exposure-to-crypto-assets/

Continue Reading

Artificial Intelligence

Wealthech: Fabrick and Prometeia Partner on Wealth Management Solution Incorporating Open Banking, AI

Published

on

Fabrick, an Open Banking Fintech and Prometia, a company offering wealth management solutions, have joined to launch the Global Investment Portfolio, a digital wealth management solution that utilizes artificial intelligence (AI) as well as Open Banking tech.

According to a release, the two companies have pooled assets and skills in open banking and AI to develop the Global Investment Portfolio that puts together an investor’s overall financial portfolio through the aggregate analysis of the bank accounts held by them across various institutions. The Wealthtech leverages AI to spot information generated by asset management activities run by other banks without the need for direct access to all of an investor’s separate investment accounts.

Global Investment Portfolio uses Fabrick’s PSD2 Gateway that allows access to comprehensive bank data through the account aggregation service which provides analysis of all current accounts. The service provides a multi-bank experience that allows customers to view all information from a single touch point. The service is designed to allow investors to monitor all their investments from a single platform while providing real-time comparisons of investments and the ability to easily see which are performing and which are not.

Matteo Necci, a Partner at Prometeia, explained:

“Global Investment Portfolio is a cutting-edge solution with respect to the main trends in Digital Finance and is proposed as a distinctive element in the automation and digitisation of customer advisory processes. The combination of our know-how in artificial intelligence solutions for wealth management with Fabrick’s open banking expertise and ecosystem allows intermediaries to have in-depth knowledge of the investor’s financial portfolio, fully developing the potential of PSD2”.

Paolo Zaccardi, CEO of Fabrick, said that wealth management is a sector that is proving to be very active in exploiting the benefits of Open Finance to develop new digital services that meet the needs of the public and end consumers:

“Fabrick is an active part of this process and the partnership with Prometeia demonstrates how access to current account data represents only the tip of the iceberg of the numerous opportunities presented by our ecosystem and the collaborative approach we promote. You just have to look at the Global Investment Portfolio solution to understand the great value that the combination of account aggregation and data categorisation brings to all the players involved, tangibly enabling a new and more complete and personalised offer model.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/07/178142-wealthech-fabrick-and-prometeia-partner-on-wealth-management-solution-incorporating-open-banking-ai/

Continue Reading

Crowdfunding

UK’s Embedded Finance Fintech Railsbank Now a Visa Ready Banking Identification Number Sponsor

Published

on

Railsbank, an established global embedded finance solution provider, and Visa (NYSE: V) are joining forces to promote local Fintech services, with Railsbank becoming a Visa Ready Banking Identification Number (BIN) sponsor.

Through the BIN sponsor program, all of Railsbank‘s customers will be able to access the same international payment tech, expertise and revenue-generating opportunities as they could had they been working as a direct card issuer with Visa.

This program enables Railsbank to further expand its existing market portfolios while serving as a  key partner for Fintech companies as they introduce their card program across the country. Teaming up with Railsbank also offers Fintech firms the services and industry know-how they require to get up and running with great efficiency.

Railsbank is also a Visa Fintech Fast Track partner, allowing Fintechs to easily gain access to Visa’s global network. The initiative is part of the payment giant’s international strategy to open up its network and support key players that are creating innovative commerce solutions.

Nigel Verdon, CEO and Co-founder, Railsbank, remarked:

“Our partnership with Visa gives us the opportunity to provide companies with a broad range of Visa payment solutions, such as Cards-as-a-Service, that meet the identified needs of their users. Railsbank simplifies the process of embedding financial services into a customer journey and can therefore help any company – no matter what industry or sector they’re in – to become a fintech by adapting to the needs of their market and customers quickly and easily.”

Kunal Chatterjee, Visa Country Manager for Singapore and Brunei stated:

“At Visa, we are focused on engaging and building strategic partnerships with the Fintech community. We’re extremely pleased to have Railsbank join us as an exclusive issuer in Singapore, and Banking Identification Number (BIN) sponsor. Our collaboration with Railsbank and the BIN sponsorship arrangement is beneficial for Fintechs as it accelerates the onboarding journey with Visa. We are looking forward to seeing more Fintechs benefit from this partnership with Railsbank as we continue to drive innovation and support the launch of products and solutions that transform the payment experiences of consumers in Singapore.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/07/178127-uks-embedded-finance-fintech-railsbank-now-a-visa-ready-banking-identification-number-sponsor/

Continue Reading
Esports3 days ago

How to reduce lag and increase FPS in Pokémon Unite

Esports4 days ago

Coven skins for Ashe, Evelynn, Ahri, Malphite, Warwick, Cassiopeia revealed for League of Legends

Esports4 days ago

Will New World closed beta progress carry over to the game’s full release?

Aviation5 days ago

And Here’s Yet Another Image Of Russia’s New Fighter Concept That Will Be Officially Unveiled Tomorrow

Esports4 days ago

Can you sprint in New World?

Esports3 days ago

How to add friends and party up in New World

Esports3 days ago

How to claim New World Twitch drops

AR/VR3 days ago

Moth+Flame partners with US Air Force to launch Virtual Reality sexual assault prevention and response training

Esports5 days ago

How to complete FUTTIES Alessandrini’s objectives in FIFA 21 Ultimate Team

Esports3 days ago

Twitch streamer gets banned in New World after milking cow

Esports5 days ago

Everything we know about Seer in Apex Legends

Aerospace5 days ago

Boeing crew capsule mounted on Atlas 5 rocket for unpiloted test flight

Esports4 days ago

What Time Does League of Legends Patch 11.15 Go Live?

Esports5 days ago

Evil Geniuses top laner Impact breaks all-time LCS early-game gold record in win over Dignitas

Blockchain4 days ago

Rothschild Investment Purchases Grayscale Bitcoin and Ethereum Trusts Shares

Gaming5 days ago

Pokémon UNITE – 13 Things You Need To Know

Blockchain4 days ago

Uniswap (UNI) and AAVE Technical Analysis: What to Expect?

Esports4 days ago

Konami unveils Yu-Gi-Oh! Master Duel, a digital version of the Yu-Gi-Oh! TCG and OCG formats

Blockchain3 days ago

BNY Mellon Joins State Street Into Crypto Trading, Backs Pure Digital Trading Platform

Esports3 days ago

How to change or join a new world in New World

Trending