What crash? Institutional investors have been buying up bitcoin all year
Every price drop is accompanied by a new wave of interest from the big money. Anyone who’s been following cryptocurrency is probably well aware of the pronounced slump that hit the markets as the December-January bubble burst, and the exuberance faded. This was perhaps an entirely expected outcome. By some estimates, maybe half of everyone who’s touched cryptocurrency to date jumped in during the December-January highs and was badly burned by the inevitable readjustment. So, most people didn’t have a very pleasant start to their crypto journey, and then those who didn’t get out were forced to buckle up for a six month bleed. Institutional investors have remained entirely unphased […]
Hub24 to launch new core offering
Platform provider Hub24 will launch a new core offering for clients with lower average balances, offering a “limited investment menu” to users. In a statement, Hub24 announced it will be launching its core offering within its investor directed portfolio service (IDPS) and super products, saying the launch will “provide an entry point for clients with lower than average account balances”. “This new offer will provide access to a limited investment menu, typically a range of diversified managed portfolios from third-party providers, often at a lower administration fee than the more comprehensive platform,” the statement said. “There has been significant interest in this type of offer, which is expected to increase […]
Joust taps new Australian crowdfunding rules in bid to raise $2 million
Joust, an Adelaide based fintech that brings competitive tension to the home loan market by linking borrowers directly with over 20 lenders who compete against each other in real-time, has launched an equity crowdfunding campaign to raise $2 million. The Joust platform brings disruption to the $1.7 trillion home loan mortgage market where $2 billion in fees are paid to mortgage brokers annually. Described as a “consumer hero” fintech company – as Joust places the power back in consumers’ hands – Joust uses technology to provide transparency, competitive tension and superior customer outcomes to the home loan market. Key points: • Aiming to disrupt the mortgage broker channel under siege […]
Prodigal Prospa returns to investors for equity
Online small business lender Prospa has gone back to the drawing board following a dramatic false start to its mooted ASX listing. Following the 11th-hour shelving of its initial public offering last month, Street Talk understands the company is considering a range of options including a private raising The company’s co-founders and joint chief executives Beau Bertoli and Greg Moshal are working through how an additional pre-IPO raising would look and the quantum of funds required to fund Prospa’s near-term growth ambitions. The deal size is expected to be at least $40 million, correlating with the amount Prospa’s existing investors were originally looking to inject into the IPO. The private raise is one of several options being canvassed by Prospa. […]
Decentralised forms nation’s first crypto vault, says bitcoin not a bubble
Stephen Moss-led Decentralised Capital has formed a partnership to capitalise on growing interest in digital currencies and new-age vaults, reflecting his view that bitcoin is not a bubble waiting to burst. The blockchain assets and investments firm has teamed with safety deposit box group Custodian Vaults to set up what they claim is Australasia’s first insured cryptocurrency vault. Custodian Vaults is part of precious metals firm Pallion Group. “This is a solution for the next phase of the industry and it gives real security,” Mr Moss, the son of former Macquarie Group veteran Bill Moss, said in an interview. “You can’t hack your way into the safe.” “In my opinion […]
Forget Hayne, here’s four ways technology will remake financial advice
Technology’s waves have swamped plenty of other industries, so it’s hardly a surprise they are washing over the provision of financial advice. So much so, there’s talk of yet another “-tech”: as in, AdviceTech. So what’s accelerating the pace of digitisation of financial advice? Four key themes come to mind: First, providers realise the current advice offering does not resonate with customers. It’s a poor “experience”. Stats suggest only one in five Australians gets financial advice. Second, the royal commission into financial services has made it abundantly clear the dominant advice model has too many conflicts of interest. Regardless of whether the inquiry separates product manufacture from providing advice, it […]
Robo-investment – Retirement takes the crown
A customer insights study by automated investment service Six Park has found that more than half its clients are using the robo-investment service to grow wealth outside of super (36.5%) and for retirement savings (28.6%). These long-term goals ranked higher than the desire to save for property or saving for short-term goals such as holidays and weddings. The study results were released as Six Park celebrates its second birthday. The highest percentage of customers using their Six Park investment as a way to generate wealth outside super came from age groups under the age of 45, suggesting that long-term investing is increasingly a focus for younger generations. “It’s very encouraging […]
Insiders say they think ethereum is a better investment than bitcoin
When it comes to cryptocurrency investments, there’s plenty of room for debate over which digital currency is the best bet. But for one group of investors, the choice is clear: According to new data from New York-based law firm Foley and Lardner, a group of insiders say that among cryptocurrencies like bitcoin, Dash, and Monero, they believe ethereum to be the best bet. Foley and Lardner surveyed a mix of investors and business executives about trends relating to cryptocurrencies. Among the questions they asked was which digital currency they believed to be the best investment opportunity. The most popular pick? Ethereum, the three-year-old blockchain technology that’s been largely used as […]
