● Soon, purchased cryptocurrencies can also be sent to other Vivid customers or withdrawn to other wallets.
● With Vivid Prime, Vivid customers trade completely commission-free.
Berlin/Milano, March 7, 2022 – Berlin-based fintech Vivid is dramatically expanding the cryptocurrencies trading functionality in its app. The financial platform is increasing the number of tradable crypto tokens to over 100, making Vivid’s crypto catalog one of the largest in Europe, and enabling direct access to the crypto markets. Vivid customers will not only be allowed to trade crypto tokens but also securely store their coins with a trusted custodian, insured against cybercrime. Other functions, such as sending cryptocurrencies and withdrawing to external wallets and a host of other features surrounding crypto, will follow soon. Vivid Prime users (9.90 Euros per month) can buy and sell cryptocurrencies completely commission-free. Proceeds from sales are available directly in the "Main Pocket" of the Vivid app, removing the need to transfer proceeds to users’ separate bank accounts. Crypto 2.0 is available immediately in Italy, Portugal, Romania, and Slovenia. All other EU markets will be rolled out gradually in the first half of 2022.
"With the introduction of fractional coin trading, we opened the world of cryptocurrencies to hundreds of thousands of Vivid customers. With Crypto 2.0, we’re now providing direct access to the crypto market with a unique catalog size in Europe with the most favorable pricing structure ever," said Evgeniya Ignatenko, Business Lead Crypto of Vivid. "By completely reorganizing our crypto offering, Vivid customers will have direct access to the cryptocurrencies they purchase. Additionally, Crypto 2.0 allows us more flexibility to add almost unlimited new cryptocurrencies – whatever token our community desires, we will be able to add it to our catalog ."
Axie Infinity, Shiba Inu, and every cryptocurrency the Vivid-community wishes
Vivid customers can now invest in an ever-growing list of cryptocurrencies in an extremely simple and secure way, starting from one euro. Vivid users can not only invest in well-known Crypto-stars such as Bitcoin, Ethereum, and Cardano but also new tokens with rising popularity such as Axie Infinity, PancakeSwap, Tezos, and Shiba Inu. The Vivid-Community will be actively involved in the process of adding more and more cryptocurrencies, to provide them a product tailored exactly to their needs. With Crypto 2.0, Vivid is offering one of the biggest crypto-portfolios with the best in class price structure. The Prime plan allows unlimited trading without any commission, while Standard (free) plan customers get one free trade per month, after which a commission of only 1% is charged on each trade.
The new service is possible thanks to Vivid's partnership with Copper, a UK-based company that provides cryptocurrency exchange and custody services to more than 400 institutional investors. Copper's custody - which supports more than 450 different tokens - ensures maximum security through the use of multiparty computation technology, which allows transactions to be signed without the risk of revealing private keys. All assets are insured on the custodian’s side against cybercrime. At the heart of the infrastructure is ClearLoop, a network that connects more than 45 cryptocurrency exchanges to Copper's trading platform and custodian services in real-time.
Crypto 2.0 as the newest addition to a wide range of services
The major upgrade of Vivid’s Crypto offering follows several product updates. Most recently, Vivid launched its community feature Vivid Beat, in which the community can exchange information about the development of the financial markets as well as their own trading experiences. Vivid Beat allows users to make smarter investment decisions with help of hundreds of thousand Vivid customers. Furthermore, a tax declaration feature was added to Vivid Services. Through it, German Vivid customers can now make their tax declaration in less than 20 minutes right in the Vivid app, and getting over 1,000 Euros back on average. With weekly updates, the Vivid app is constantly adding features that make customers’ financial life easier than ever.
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 their 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 400 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.
The Crypto 2.0 services are provided to customers by Supreme Digital S.r.l., an entity incorporated in Italy that is part of the Vivid-Group. Crypto 2.0 shall not yet be available to customers in Germany.
For more information, please visit https://vivid.money/