Three Crypto Platforms Revix, Bitfund, Coinpanion Merge To Create Altify
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Three Crypto Platforms Revix, Bitfund, Coinpanion Merge To Create Altify

Two South African cryptocurrency investment platforms Revix and Bitfund have merged with Austrian digital asset platform Coinpanion to create an alternative investment platform called Altify. 

The goal of the new outfit is to enable South African investors, particularly the younger ones, to harness the power of alternative investments.

According to a joint statement, Sean Sanders, the founder of Revix, has been named the CEO of the new entity, Altify, which is headquartered in London.

In their Nov. 30 statement, the three companies said that Altify aims to provide alternative investment opportunities, that are usually reserved for large institutions and the ultra-wealthy, to ordinary people. 

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These alternative investment opportunities include private credit (private debt), venture capital, real estate, crypto assets, and collectibles.

According to Sanders, the new entity not only cements an already established position in the South African market but also enhances its investment reach. The merger brings together over 80,000 customers from Revix, Coinpanion, and Bitfund under the Altify umbrella.

By tapping into decentralized finance and tokenized assets, Altify aims to reduce barriers like high investment minimums, illiquidity, and high fees. The platform leverages its founders’ experience in crypto and digital asset management.

The new CEO stated that,

“Ultimately, our goal is to enable South African investors the opportunity to harness the power of alternative investment, positioning ourselves as the go-to alternative investment platform across South Africa and the bigger EMEA region.”

Sanders also stated that the other goal of the new entity is to change the long-held perception that only individuals in their 60s ought to invest in alternative assets.

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Meanwhile, the statement revealed that the merger transaction had the support of the respective companies’ shareholders. 

These shareholders include Sabvest, CVVC, Founders Factory, Emurgo, High-Tech Gründerfonds, and Calm/Storm Ventures. The merger also won the backing of angel investors Frank Westermann and Johann “Hansi” Hansmann.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.