Vimba expands its crypto savings service into the United Kingdom

11 Dec, 2018
by Joeri Cant
Vimba expands its crypto savings service into the United Kingdom

Vimba, based out of Auckland, New Zealand, announced the expansion of its cryptocurrency savings and trading platform into the United Kingdom, offering residents of the UK the opportunity to make limited weekly investments in Bitcoin and Ethereum.

The announcement of Vimba's entry into the UK market came soon after the company received a $330,000 grant from Callaghan Innovation, a New Zealand government agency supporting the development of New Zealand's high tech business sector.

Vimba's CEO Sam Blackmore said that the grant will assist the company's expansion of its current service offering, including the introduction of new cryptocurrencies to the platform and scaling the network.

Blackmore added that the UK is a particularly interesting market, with a large appetite for digital asset classes, but a sensible and considered approach to risk.

'The current market conditions actually make a good case for the tried-and-tested dollar cost averaging technique involving smaller investments over time, which can be considered an effective way to avoid speculative bubbles and market volatility'

Vimba will provide UK investors with the opportunity to engage with crypto assets in regular intervals and in smaller increments. Scheduled purchases of Bitcoin and Ethereum via Vimba, start at £10 a month.

Read more: $330K grant awarded to New Zealand crypto wallet & exchange, by gov't institute

Blackmore further shared his optimistic outlook for the crypto market.

'We believe Bitcoin will at least reach the market cap of gold as it is a more efficient, more accessible, more secure version of that rare asset. For it to reach the market cap of gold, one Bitcoin would be worth around $600,000'

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