Italian customers can now swap between more than 300 cryptocurrencies

September 5, 2022

Berlin, 5 September 2022 - Vivid – a German fintech that combines banking and investment in a single app – continues to improve its offer for Italian crypto-investors, now allowing direct swapping between cryptocurrencies more than any other mobile banking platform in Europe.

Customers in our country will now be able to swap digital assets directly with each other without going through traditional currencies and taking advantage of convenient fees. In fact, for users with Prime accounts, all cryptocurrency transactions are commission-free, while for customers with Standard (free) accounts, swapping between cryptos incurs a fee of just 1 percent.

Recently registered as a Virtual Asset Services Provider (VASP) in Italy, Vivid thus further expands the possibilities available to its users, having introduced several tools this year to better manage their investments: from saving plans, to regularly investing a monthly sum to stop loss and take profit orders, which allow users to set a price target at which to sell or buy an asset, thus limiting the risk of losses and ensuring that a profit is realised in the event of an upward trend. Also, this year, Vivid even launched cashback in cryptocurrencies, thus allowing you to accumulate Bitcoin, Ethereum or any of the hundreds of other cryptocurrencies available simply with your everyday expenses.

"Being able to trade cryptocurrencies without going through traditional currencies was one of the most frequent requests from our users, and every upgrade of our app stems first and foremost from their needs," explains Alexander Emeshev, co-founder of Vivid. "In these complicated times for all financial markets, many investors prefer to put part of their crypto portfolio in stablecoins, waiting for the next bullish phase or to take advantage of trading opportunities. We are happy to offer this possibility to our clients in Italy, which for us is increasingly an important laboratory of innovation in digital assets."  

Vivid – on the strength of a €100 million C-round that took it to a valuation of €775 million in 2022 – provides more than 500 thousand customers in Europe with a simple platform to manage their savings, with 15 sub-accounts (also shared) in around 100 different currencies, customisable debit cards, cashback programmes and many in-app services, such as hotel bookings or car rentals. In addition, with more than 300 cryptocurrencies and 3,000 fractional shares and ETFs, Vivid's investment catalogue is today among the largest and most comprehensive in the European fintech landscape.  

About Vivid
Vivid is the first financial service platform that combines all your daily money needs in one app. Whether it’s spending, saving, or investing – Vivid offers an easy, flexible, and transparent solution to grow your money. The company's mission is to provide its over 500,000 customers throughout Europe with a superior banking and investment experience and to offer a wide range of financial services (including savings accounts, multi-currency accounts and investments in stocks and crypto) without unnecessary fees. Vivid was founded in 2019 in Berlin and consists of an international, highly qualified team of more than 300 employees. Vivid has already raised over 200 million euros from renowned investors, including Ribbit Capital, Greenoaks Capital, and the SoftBank Vision Fund 2, and is valued at 775 million euros.

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