coinculture.com
German Financial Institutions Invest in Cardano
Two prominent German banks have just partnered to offer Cardano and Solana investments to their clients. Onvista and Comdirect, a Commerzbank AG-affiliated bank, have teamed with Valour to provide their clients with more crypto services.
According to a 2019 study, Comdirect is the third-largest bank in Germany, with over 2.5 million customers. It formed a partnership with Valour Inc., a publicly listed firm that provides a bridge between traditional financial markets and the decentralised finance sector. Customers of Onvista and Comdirect will have access to a vast array of exchange-traded products (ETPs) offered by the cryptocurrency firm as a result of the integration.
With this new product, German banks can give consumers altcoin investment options. Cardano, Solano, Polkadot, Uniswap, Avalanche, Cosmos, and Enjin are all significant participants in the decentralised finance industry.
These products are offered in addition to the passive investment products in Bitcoin and Ethereum that Valour already provides. Bitcoin Zero and Ethereum Zero were the company’s main offerings.
It is intriguing to see cryptocurrencies such as Uniswap on this list since it indicates a rising interest in DeFi technology. According to a survey by CoinShares, Uniswap was the only cryptocurrency to attract large inflows from institutional investors last week, with $100,000 coming into digital currency.
Russell Starr, the chief executive officer of Valour, welcomed the alliance as a step in the right direction for the company’s aspirations. The CEO said that their latest employees already provided enormous value to the team and would perform at a high level regardless of market conditions.
Marco Infuso, Chief Sales Officer at Valour, underscored that by integrating Valour’s low-to-zero-fee ETPs, Comdirect and Onvista would be able to provide their consumers safe and regulated exposure to the cryptocurrency ecosystem. Especially during ‘crypto winter, expenses are the top issue for investors. Offering zero-cost investing choices in Bitcoin and Ethereum is a significant benefit for our investors and another step in democratising this nascent and rapidly developing asset class.
Cardano is trading at $0.54, whereas Solana is moving around the $41 region.