ComiBlock, a Nigerian startup, has introduced a crypto-investing robo-advisor that gives users with smartphones access to tools that can provide tools, advice, curate, and thematic crypto-portfolios.
ComiBlock , Nigerian startup launched in February uses technology to enable users to become better informed on everything crypto. Speaking on this, the founder, Dennis Ejimnkeonye told Disrupt Africa ,
We measure progress by helping our users achieve specific life goals, rather than generating the highest possible portfolio return or beating the market. We also do things like automatic rebalancing and crypto tax-loss harvesting, services that were only available to the ultra-rich until now.
He also reaffirmed their position in the crypto realm, stating that as crypto grows, a robust and stable financial ecosystem is needed to represent flat investment markets and traditional stock, which is where they step in to fill the void.
Speaking on planning pre-seed round of funding to onboard more talents, he said:
“We have built a solid five-month track record, generating more than percent cent net return since inception, without experiencing a single down month even during the market crashes.”
Uptake, a product of ComiBlock which is still in its beta testing stage is quickly growing. When asked about this product, Ejimnkeonye said,
Uptake has been very stable and rapidly growing – though we are still in private beta, the referrals are coming in fast. We have controlled our growth to enable us to achieve a solid product-market fit first before we are still opening up, but anyone can join with an invitation from an existing user.
Looking to expand beyond the shores of Africa, ComiBlock is in the works of traversing strategies for compliance and regulation, although given insight by the Security Exchange Commission in Nigeria on robo-advisory and crypto. By looking at outward compliance they are hopeful about having a competitive advantage in the global market.
So far, none of the major robo-advisors globally include crypto in model or automated portfolios. Only a couple allows customers to trade crypto on the side.
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