BVNK Taps Simple to Provide an Alternative for low-risk, fixed-income assets
BVNK, the crypto-powered banking platform for global businesses, yesterday announced a partnership with Simple that will bring cryptocurrency expertise and knowledge to 2,000 member family offices based in the European Union. Based in Copenhagen, Simple is the next-generation market intelligence, data and insights lab focused on helping family offices and private investors to professionalise and be future-ready.
Through BVNK Yield, businesses generate interest on digital assets by lending them to interested parties without being exposed to the volatility of crypto markets. Thanks to BVNK's integration of Copper ClearLoop, the lending is carried out by technology but the assets do not leave secure custody and are insured while they're held there. Consequently, cryptocurrency yield services present an appealing alternative to low-risk, fixed-income assets as part of the portfolio mix.
According to research, 1% of the average family office portfolio is invested in cryptocurrencies, which equates to an average of USD 11m of crypto holdings for each office.
Jesse Hemson-Struthers, BVNK's CEO, said: "Crypto-powered banking services are better banking services. They allow for lower fees, higher returns and eliminate complexity for family offices with international operations. One of our key goals at BVNK has been to make crypto banking services more accessible so that non-experts can enjoy the benefits. Our partnership with Simple is the embodiment of this."
Source: Fintech News
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