International financial advisory firm deVere Group is launching a cryptocurrency app to meet what it describes as ‘soaring global demand’.
The firm’s chief executive and founder Nigel Green says critics of cryptocurrencies such as Bitcoin who describe them as a fad are ‘like King Canute’ and argues 2017 will in future be seen as the year they went mainstream.
The app, to be launched in the coming weeks, is called deVere Crypto, and will be available for Apple and Android. It will allow users to store, transfer and exchange five major cryptocurrencies, including Bitcoin and Ethereum.
Green says: “2017 saw the true dawn of the financial technology era. Fintech is already fundamentally changing the way we access, manage and use money – and the changes are coming quicker than ever before due to improving technologies and growing demand.
“Nothing has captured the imagination in this new fintech age quite like cryptocurrencies, specifically Bitcoin. No one was really talking about it back in 2016. But those who invested in Bitcoin before the beginning of last year have enjoyed an impressive price increase.
“A team of some of the world’s leading blockchain – the revolutionary technology that underpins Bitcoin – and other fintech experts have created this new app which, I believe, is going to set a new standard in the thriving cryptocurrency sector. Our digital world needs digital currencies. It makes sense.
“The world has changed in three significant ways that support the rise of cryptocurrencies.
“First, technological advancement. We are adopting more and more technology into our lives. And the rate at which we’re doing so is increasing. It’s not just digitalisation or existing technology. From self-driving cars to intelligent robots, advanced new technologies will impact every part of our lives. Our financial lives will be no exception. Tech is now in our DNA.
“Second, political shifts. There is an appetite, a huge and growing one, for currencies that are not controlled by central banks and governments. Supporters believe that these digital currencies are part of the antidote to what they see as the ills caused by the traditional system.
“And third, globalisation. Whether some populist politicians like it or not, globalisation is happening and it’s here to stay. We’re all becoming increasingly interdependent and internationally-minded, and this, when harnessed properly, is an immensely positive force for trade, commerce and prosperity across the world.”