Ever since the birth of Bitcoin and blockchain by the mysterious Satoshi Nakamoto, the idea of decentralized currency dubbed cryptocurrency hit the traditional regulated system of the world where everything used to work under the check of the big fishes (central authorities) noticeably.
The folks around the globe got mesmerized upon learning that they can now transfer their assets worldwide without getting into the in-depth scrutiny of the central banks which would in most cases take more than 2 to 3 days to get delivered.
If digital currencies begin to play an essential part within our economy, we could see that these cryptocurrencies will not only alter the traditional trading dynamics but businesses throughout the world, as well as countries, will be able to generate more export/import services comparatively easily.
The ideas mentioned above struck many individuals’ minds and organizations because the underlying blockchain technology is projected to transform the digital sphere. Many startups and investors started to show their interest in the crypto-space gradually and then came the so-called golden era of the crypto-mania, the bottom half of 2017.
The era when digital currencies such as Bitcoin, Ethereum and Ripple recorded remarkable market growth, benefitting their investors with huge returns.
As it is established that cryptocurrency can be the currency of the whole world, but getting hold of it isn’t as easy as purchasing shares in public organizations. To make the procedures comfortable and swift, many startups are devoting ample amount of their times.
Amun, the Switzerland-based FinTech startup is one of them. Although the startup has been making appearances on the space for a short time only, still their strides have made a notable difference.
In an announcement yesterday via TechCrunch, Amun revealed that they had completed their first round of funding of $4 million to facilitate the crypto investors with stock-like buying options.
Investors like Adam Draper, founder of Boost VC and the son of Tim Draper who is famously known as pro-Bitcoin, Greg Kidd, co-founder of Hard Yaka, Graham Tuckwell, founder of ETFS Capital, and four other unnamed family offices have made the significant contribution to the said fund.
Last fall, Amun, launched ‘HODL’ on the Swiss Stock Exchange which is considered as the “the world’s first physically backed ETF (Exchange-Traded Product)” that is supported by the five giants of the crypto mania: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).
The HODL exchange-traded product is basically a security; the prices of the digital currencies it is tied to will affect its value accordingly.
Hany Rashawan, CEO and co-founder of Amun, expressed his vision behind the exercise stating that it is to facilitate all interested investors even when they face local restrictions.
“[While] growing up in Egypt, he saw the government ban Bitcoin despite the fact that it offered an alternative to the Egyptian pound, which saw its valuation tank massively in 2016. He believes that products like Amun allow anyone to take part in crypto even when they face local restrictions, as was the case in Egypt and other countries.”
He further commented on his vision while talking to TechCrunch saying:
“We want to make investing in crypto as easy as buying a stock. Institutional investors around the world are looking for a secure, easy, and regulated way of accessing the crypto asset class. Amun’s products do that at a low price in one of the most reputable financial hubs in the world.”
Image courtesy of Pixabay.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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