Milano, June 15, 2022 – The mobile finance platform Vivid has successfully received approval for the registration as a Virtual Asset Services Provider (VASP) by the Italian regulator Organismo Agenti e Mediatori (OAM). With the registration of the Italian entity of the Vivid group, the Berlin Fintech is doubling down on a legally compliant and secure offering of its Crypto 2.0 product, launched earlier this year with over 150 listed cryptocurrencies.
“Building safe and secure Crypto products for our customers in Italy and all over Europe requires a close collaboration with local regulators and authorities. For the whole Vivid Group, regulatory compliance in all local markets has therefore been a key priority”, says Evgeniya Ignatenko, Head of Product – Crypto at Vivid. “We truly believe that Cryptocurrencies have the potential to have a major impact on the financial sector as we know it today. The registration with the OAM in Italy marks a milestone in our young history. We will collaborate with Italian authorities in a transparent and clear way. Only in this way can we make progress on our mission to become Italy’s number one integrated Crypto platform.”
Berlin Fintech Vivid entered the Italian market in April 2021. It offers a mobile app where users can deal with all matters related to finances and even beyond. Next to regular banking, customers can invest in over 3,000 stocks and ETFs as well as trade precious metals. In March 2022 Vivid launched its new Crypto offering in Italy. With it, users have direct access to over 150 Cryptocurrencies at one of the lowest fee structures in Europe.
For Vivid, the protection and education of customers have the highest priority. Next to close collaboration with local authorities, Vivid invests in the development of useful and safe features to support users while investing. The latest developments in both stock and Crypto markets have shown the importance of it. Therefore, next to the Social Trading feature “Vivid Beat” and the educational program “Vivid Classes”, Vivid also now offers a “Stop Loss, Take Profit” feature, which allows customers to set certain thresholds to sell assets automatically.
More Information about “Stop Loss, Take Profit”:
More information about Crypto 2.0:
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 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.
For more information, please visit https://vivid.money/
Vivid’s Crypto 2.0 services are provided to customers by Vivid Digital S.r.l., an entity incorporated in Italy that is part of the Vivid-Group.