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South African crypto startup Revix secures funding to expand in Europe

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The startup raised $4 mn in a fresh funding round

South Africa-based cryptocurrency startup Revix is planning to expand in Europe and has raised around $4 million in a fresh funding round, media reports said. Besides expanding in Europe, Revix will also use the funds to launch its mobile app and a variety of Fourth Industrial Revolution (4IR) investment opportunities. Through its mobile application, Revix wants to make investments in cryptocurrency funds more accessible to ordinary investors,

Sean Sanders, Revix’s chief executive officer (CEO) told the media, “We aim to blur the lines between investing in traditional asset classes, such as stocks, as well as the emerging alternative investment sectors, such as AI, biotech, 5G, eSports and cryptocurrencies. We want to empower everyday people to safely invest in emerging themes, technologies and asset classes in an effortless way.”

“We’re building a behavioural loyalty model that incentivises investors to undertake smart investment decisions, such as diversifying their investment portfolios, growing the investment community, improving their financial knowledge and making smart long-term investment decisions, while being rewarded for doing so.”

Coinbase, which is one of the biggest cryptocurrencies in the world, is valued at nearly $100 billion, media reports said. The company recently went public on April 14th. Coinbase listed its shares on Nasdaq under the market symbol ‘COIN’.

In a company filing, Coinbase said, “We are subject to an extensive and highly-evolving regulatory landscape and any adverse changes to, or our failure to comply with, any laws and regulations could adversely affect our brand, reputation, business, operating results, and financial condition.”

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