Two South African crypto platforms and an Austria-based digital asset platform have joined forces to launch a brand new various funding platform referred to as Altify. The aim of the brand new outfit is to allow South African traders, significantly the youthful ones, to harness the facility of different investments.
Alternative Investment Opportunities a Preserve for the Wealthy
Two South African crypto alternate platforms, Revix and Bitfund, have merged with an Austrian digital asset platform to create a brand new various funding platform referred to as Altify. According to a joint assertion, Sean Sanders, the founding father of Revix, has been named the CEO of the brand new entity, which is headquartered in London.
In their Nov. 30 statement, the three corporations mentioned that Altify goals to supply various funding alternatives, which might be normally reserved for giant establishments and the ultra-wealthy, to strange folks. These various funding alternatives embody personal credit score (personal debt), enterprise capital, actual property, crypto belongings, and collectibles.
Merger Deal Backed by Shareholders
According to Sanders, the brand new entity not solely cements an already established place within the South African market but in addition enhances its funding attain. The new CEO added:
“Ultimately, our goal is to enable South African investors the opportunity to harness the power of alternative investment, positioning ourselves as the go-to alternative investment platform across South Africa and the bigger EMEA region.”
Sanders additionally said that the opposite aim of the brand new entity is to alter the long-held notion that solely people of their 60s should spend money on various belongings.
Meanwhile, the assertion revealed that the merger transaction had the help of the respective corporations’ shareholders. These embody Sabvest, CVVC, Founders Factory, Emurgo, High-Tech Gründerfonds, and Calm/Storm Ventures. The merger additionally received the backing of angel traders Frank Westermann and Johann “Hansi” Hansmann.
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