Cointree in pole position to capitalise on growing interest in cryptocurrency
The Melbourne-based cryptocurrency exchange Cointree is well-positioned to capitalise on the growing interest in cryptocurrency following the announcement by the Silicon Valley-based data analytics company, Indicia Labs, that it is taking a strategic stake in the group.
This investment by Indicia Labs opens the way for Cointree to accelerate growth and consolidate its market-leading offerings of providing cryptocurrency exchange services to the wealth management industry.
Cointree Managing Director Shane Stevenson said: “There is a growing market awareness about cryptocurrency, especially among High Net Wealth (HNW) investors and self-managed super funds (SMSFs), that it’s not an ‘exotic’ investment but one that sits comfortably in the alternatives bucket.
“Family offices are increasingly involved in cryptocurrency, and we expect HNWs and SMSFs to follow suit as they understand that our platform provides a clean, clear, reliable and safe way to hold the currencies.
“This cottage industry is becoming part of the investment orthodoxy, and we want to be certain we are ready to be part of this exciting growth. Having Indicia Labs as a key investor and strategic partner will ensure this.”
Stevenson added that despite the steps taken to educate the market about cryptocurrency, much remained to be done, and Cointree envisaged its platform being integral to this process. The Indicia Labs investment gives Cointree access to world-leading patented data analytics software.
“It enables us to provide innovative cryptocurrency trading services that are a first to Australia, empowering our customers to gain unique insights and achieve the best investment outcomes.”
As part of the investment, Indicia Labs founder and Santa Clara University Leavey School of Business Professor Gustavo Schwenkler will join the board of Cointree. “We are really excited to assist Cointree in achieving its vision of becoming Australia’s leading and most innovative cryptocurrency platform,” said Professor Schwenkler.
“We are very familiar with the Australian and North American industry players and have watched Cointree build an impressive trading platform for its clients, with a particular focus on providing best-in-class services for the enormous Australasian wealth management industry.
Cointree has operated a trusted cryptocurrency platform and exchange in Australia for more than seven years. The company is entering a new chapter of growth and looks forward to announcing additional developments in coming months as it achieves further milestones.
