TechCentral reported on Friday that South African cryptocurrency platforms Revix and BitFund are joining forces and, together with Austria’s Coinpanion, have formed a new alternative investment platform called Altify.
Revix founder and now Altify CEO Sean Sanders joins Duncan McLeod on the TechCentral Show to unpack the merger, how it came about, and what Altify hopes to do in the alternative investment space not only in South Africa but the broader Europe, Middle East and Africa region.
In its new form, Altify will continue to offer the crypto investment products that Revix, Coinpanion and BitFund became known for, including a wide selection of ETF-style crypto bundles, along with other alternative finance products.
He said the recent downturn in the crypto market acted as a catalyst for the merger and accelerated Altify’s expansion into non-crypto investment options.
Read: South Africa’s Revix is now Altify after big crypto merger
According to Sanders, these market dynamics have also primed the environment for consolidation among retail investment platforms, especially in the crypto space. “Altify is leaning into these opportunities and is engaging with other investment platforms in the UAE, the UK and Europe who could join Altify over the coming months.”
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