Blockchange Inc. today announced the addition of fourteen new digital assets to its BITRIA™ Digital Turnkey Asset Management platform for registered investment advisors. The additions, which include ten Decentralized Finance (DeFi) tokens, will allow wealth managers to offer a much broader base of digital assets in response to growing interest from investors. The DeFi ecosystem is particularly popular with Millennials and investors with more tolerance for risk.
Read More : PayPal Invests $50 Million in Black and Latinx-Led Venture Capital Funds
The newly supported assets are Balancer (BAL), Compound (COMP), Curve (CRV), Decentraland (MANA), Kyber Network (KNC), Maker (MKR), Orchid (OXT), 0x (ZRX), Pax Gold (PAXG), Ren (REN), Storj (STORJ), Synthetix (SNX), Uma (UMA), and Uniswap (UNI). These add to the existing BITRIA platform support for Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Zcash (ZEC), Basic Attention (BAT), and Chainlink (LINK); providing a comprehensive range of digital assets for investment advisors to offer their clients.
While digital assets in general are new territory for many investment advisors, the BITRIA platform allows RIA firms to engage early and with confidence through a separately managed account (SMA) approach, even enabling advisors with more experience in digital assets to act as subadvisors. This is particularly important in the DeFi space with its increased complexity.
Read More : GlobalFintechSeries Interview with Michael Hagedorn, Senior Executive Vice President and Chief Financial Officer at Valley National Bank
“DeFi assets add yet another layer of diversification for investors as they’re not correlated with traditional assets or even with more firmly established cryptocurrencies,” said Dan Eyre, CEO of Blockchange.
“The risk-reward profile of DeFi also offers tremendous growth potential for investors – somewhat like the early days of Bitcoin and Ethereum. The BITRIA platform allows advisors to offer these opportunities to their clients while benefiting from the experience of other firms with more experience in the asset class.”
Read More : How Customer Service Can Balance Efficiency and Security In Financial Services?