deVere Group Will Offer a Crypto App
deVere Group, a South African global financial consultancy firm founded in 2002, will be launching a cryptocurrency app within the next few weeks. The company’s app will allow its users to exchange or transfer ethereum, bitcoin, and a few other leading cryptocurrencies. Nigel Green, deVere Group CEO, states that his company consulted the most reputable blockchain and fintech experts in order to develop their cryptocurrency app, simply called “deVere Crypto”. Green’s company has been a strong supporter of cryptocurrencies. He says, “Our digital world needs digital currencies.”
High Expectations for deVere Crypto
According to Mr. Green, the idea to create the deVere crypto app was fueled by the growing requirement to “store and transfer cryptocurrencies”. The company has high hopes for this app considering they feel that it will set a “new standard” in the crypto-market. deVere Group will make their app available to both Apple and Android users. Of course, the company’s crypto app won’t be the first to hit the market.
There’s Already Some Existing Competition
Already, South Africa has the Luno app, which allows its users to easily and securely store, purchase, and inform themselves about cryptocurrencies. Therefore, deVere Group will have to offer something better or unique that users might not be able to find when using the Luno or numerous other crypto apps
Although the deVere Group provides financial advice to more than 80,000 high-net worth clients with billions of dollars under advice and management, the company’s impact on the crypto-market remains to be seen. However, it does seem to have the necessary resources to at least be able to create a decent crypto app.
Reasons for Entering the Cryptosphere
Many traditional companies have jumped onto what’s now being the crypto bandwagon. As Core Media reported earlier, Kodak launched KodakCoin in an attempt to become relevant again by associating itself with the surging crypto-market. So, is the deVere Group also just trying to take advantage of the crypto craze? Possibly, but the company has provided a few solid reasons for entering the crypto-world.
The first reason given by the company is rapid advancements in technology. Given that many work processes have become automated along with the introduction of self-driving vehicles, the idea of having digital currencies makes sense to the company. In addition, it has decided to get involved with cryptocurrencies because it senses a political shift. According to deVere Group, this means that there’s a significant worldwide demand for currencies that are not controlled by the government’s of countries or their reserve banks. Finally, the company considers cryptocurrencies the perfect complement to the rise of globalization, where international borders are opening up more than ever before.
Since deVere Group is an international financial firm that offers financial advice to investors in over 100 countries, these reasons seem legit. Moreover, entering the crypto realm can be thought of as a logical extension of their financial services. Now, it will be interesting to see if their crypto app can achieve the same kind of success as their other financial services.