Trade Republic, a savings platform that operates in Spain offering shares, ETFs, investment plans, derivatives, announced on Thursday that thanks to its recent registration with the Bank of Spain, users will also have the option to invest in cryptocurrencies.
The announcement made by the organization that it also counts the reliability of having a banking license granted by the BaFin (Federal Financial Supervisory Authority of Germany)responds to the rating that the same entity has given to cryptocurrencies “a great innovation in the world of finance that, as a result, has become a highly demanded asset class that offers new options for investment strategies”.
Kintxo Cortés, Country Manager of Trade Republic Spain, highlighted in relation to its registration with the Bank of Spain, the interest of the platform for wanting to go hand in hand with regulation. “Regulation is a fundamental step in a context of overinformation and the appearance of platforms with unclear rules, which are more like historical vices in the sector that we do not want to repeat. Trade Republic is one of the few companies that is within the current regulatory framework, and the only bank to achieve it today, as an ‘all-in-one’ platform for savings and investment offer”said.
“Macroeconomic factors such as negative interest rates and inflation in the euro zone force investors to adopt new investment strategies, this is especially relevant in Spain due to the high inflation rate of 7%. Our objective is to open opportunities for long-term savings and diversified in the capital market for our clients”Cortés added, after highlighting the popularity of cryptocurrencies in the global economy and in Spain.
“Today they represent an estimated market of 2.5 billion dollars. Spain is no exception: 15% invest in crypto in Spain according to industry reports”Cortes stated.
For its part, Christian Hecker, co-founder of Trade Republicnoted that education and knowledge are the priorities of your organization, as for him, cryptocurrency trading is suitable for informed investors who are familiar with volatile markets. “From Trade Republic we educate users about the volatility and evolution of the market in the app and offer informative material to better understand the cryptocurrency market”Hecker said.
Finally, and in this sense, Trade Republic indicated through the announcement of its new service that its objective was to give everyone access to capital markets, and the launch of cryptocurrencies, including its investment plans, together with the current offering of shares and ETFs, to reinforce its vision of democratizing access to the financial world.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.