KryptoPips Supports Global Brokers with Launch of an Innovative Loyalty Program

KryptoPips, the world's first multi-broker rewards coin, has announced an innovative loyalty program that will allow brokers across the world to plug-in. Besides allowing brokers to reward their clients for participating in various trading activities, campaigns and competitions, KryptoPips also offers customisable systems for brokers to deliver greater personalised value to their base of clients. 

A number of intended partnerships are set to be announced in the coming weeks, which will see the platform being adopted by several global brokers immediately. KryptoPips will be working directly with the early adopters to ensure that the entire ecosystem of products and services are efficiently leveraged by the brokerages to meet the demands of their partners and clients.

Asked about the main idea behind KryptoPips, founder and CEO of KryptoPips Danny Christ said, "I saw two major trends developing over the years. Firstly, it's a well-known fact that client acquisition is far more expensive compared to client retention. In fact, it costs up to 7 times more to acquire a new client than to retain an old one. Additionally, the probability of selling to an existing client is 60-70% while the probability of selling to a new prospect drops drastically to 5-15%. The second trend was the uptick in trading volumes over the years recorded by brokerages, especially since the pandemic started. Both these trends were the impetus for me to develop KryptoPips with the team; so that we can democratize the brokerage world and bring massive value to both brokers and clients. It's a win-win situation for all.”

Elaborating further, Danny added, "In terms of win-win, the rewards coin will encourage clients and partners to take advantage of certain promotions or trading conditions set-out by the broker. That's how the clients win. The broker wins by having a strong value proposition that solves the age-old issue of acquisition and retention once and for all. Brand equity and marketplace value for the brokers will shoot through the roof."

In terms of growth, the market is there for the taking. Trading volumes and market capitalisation for instruments like equities, gold, silver, fiat currencies and cryptocurrencies have been steadily increasing through the years; especially during the pandemic. 

Asked to share more on his background, Danny said, "Early in my career, I headed major technology projects that helped numerous SMEs across Southeast Asia to scale rapidly with digital transformation.  That put me in good stead to hold several C-suite appointments before I headed a successful blockchain consultancy that helped businesses transform their capabilities and offerings using blockchain technology. As a fintech and crypto evangelist, I see tremendous potential in the brokerage industry which is ripe for disruption.”

Danny also discussed more on the development side of things, sharing that the KryptoPips team has hired a full stack of developers, and work began 7 months ago to put everything in place. Segments like the wallet, the staking portal, reward mechanisms, client interface and collaborations with decentralised exchanges are all in place. 

In conclusion, as brokerage traders and partners sophistication and expectations grow, they will demand more from global brokers. The key for brokerage firms will be to respond to those types of clients who can benefit and derive value from the firm's core rewards system. KryptoPips looks set to plug this gap and bring value to both brokerages and their clients for the long haul.