Fintech developments over the last ten+ years have been incredible. Necessity being the mother of invention, as humanity emerged from the 2008 recession, the need for new financial tools was evident. Fast forward to today, two of the most powerful, and increasingly adopted mechanisms are cryptocurrencies and buy now, pay later. Two truly innovative products meeting a variety of different economic demands. What we’re seeing now, is the cross-pollination of BNPL and crypto, with a first-ofits-kind announcement.
Credova, a buy now, pay later provider, announced that it has strategically allocated some of its treasury assets to the IDX Risk-Managed Bitcoin Mutual Fund (BTIDX). Credova’s Chief Executive Officer, Dusty Wunderlich, stated “Digital assets and currencies represent one of the greatest breakthroughs in financial technology. A breakthrough ideally timed as fiat currency and central banking policies are at a precipice. I believe an allocation to digital assets is the fiscally responsible position for a corporation looking to protect liquid assets in a highly inflationary environment. IDX is the ideal partner to manage digital assets responsibly as this new asset class works through price formation and volatility.”
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Andrew Swan, Chief Executive Officer of IDX noted “Credova Financial is a perfect example of who this fund is designed to provide exposure for. As we continue to see adoption of bitcoin increasing, institutional and corporate investors are seeking risk-managed exposure to this asset class, particularly if it’s a corporate treasury which may need to call on that cash at any time.”
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About Credova
Credova Financial is the leading outdoor sporting goods point-of-sale financing platform providing buy now, pay later solutions to merchants operating both brick and mortar retail locations as well as through an integrated API eCommerce solution. Through the Credova platform and integrated API solution, consumers gain access to multiple financing solutions for their purchases, allowing them to buy now and pay over time.
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