Bitcoin-based River Financial today declared that it is introducing a mobile app on iOS. River Financial intends to ease buying of cryptos for older investors. River Financial operates like a traditional bank, however, with crypto. The firm raised $6 million in a seed funding round that involved investments from Polychain and Castle Island Ventures.
It intends to ease the services for older investors who demand the same service as conventional financial institutions. Moreover, the mobile app has been the number-one requested feature from its growing user base. The River Financial’s mobile app comes amidst the ongoing Bitcoin price bull run.
River Financial’s Mobile App to compete with prominent exchanges
River Financial’s mobile app will be contending with big exchanges that already have a famous mobile platform. It involves Coinbase, Kraken, and Binance. However, the company stated that signing it and making acquisitions will be more expeditious than opponents. The app is only accessible on iOS and will employ Apple’s security feature. The features involve face ID. Moreover, it will enable the clients to purchase Bitcoin without delaying for fiat funding to settle immediately.
River Financial said that it is launching the app as maximum users employ mobile products than before. People desire to trade stocks and bonds on mobile instead of desktops. One of River’s website’s trademarks is its simple user interface and its average of two minutes for onboarding.
Further, the exchange intends to introduce the same approach to the mobile app. Thus, it ensures to make it simple to execute purchases and incorporating support for a price widget. Moreover, River has no instant plans to launch the Android app. However, users can expect approval in 2022. If older investors capitalize on the mobile offering, River could obtain ground with consumers in an age group with a principal amount of accumulated capital to deploy.
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