Skyrocketing demand for cryptocurrencies has prompted one of the world’s largest financial advisory and fintech organisations to unveil a new and exclusive product linked to the movements of Bitcoin and Ethereum.
deVere Group will now be able to offer its clients a fixed-yield bond that tracks futures of Bitcoin and Ether on the Chicago Mercantile Exchange over a one-year maturity period.
Of this new financial solution, Nigel Green, deVere Group CEO and founder says: “I’m confident that this structured note will prove to be an extremely popular addition to investors’ asset allocation strategy, helping with all-important portfolio diversification.
“In the current era of almost zero interest rates and with inflation becoming a growing and serious issue, the rate of return on most investors’ money is important to consider.
“This proposition – a buy-and-hold to maturity one with principal protections in place – will give investors access to potentially higher income or growth which other options may not be able to offer.”
He continues: “The decision to launch a fixed yield solution linked to Bitcoin and Ethereum (Ether) futures was made to cater to the soaring client demand regarding cryptocurrencies.
“Digital currencies are widely regarded as the future of money, which is evidenced by the growing institutional investment from Wall Street giants and multinationals. And in today’s digitalised, globalised world, the retail demand for digital, global currencies in some form – is only set to grow.”
Crypto is a burgeoning asset class and it’s one that is set to play a larger and larger role within the global financial system. As such, says the deVere CEO, it is imperative that “we offer comprehensive access to digital assets so that clients can have a diversified portfolio to mitigate risks and to seize opportunities.”
As one of the leading voices and thought leaders on cryptocurrencies and blockchain voices for the industry, media, investors and regulatory bodies, Mr Green has been critical of some within financial services who are reticent about the sectors.
He recently noted in the media: “I find it baffling that some banks have decided to refute the legitimacy of cryptocurrencies.
“By doing so, they are not only placing themselves on the wrong side of history, but they’re not providing clients access to the potentially significant opportunities of key digital assets that could define the future.”
The fact that the chief executive has personally invested in the development of this exclusive product underscores his deep conviction.
Speaking about the new vehicle, Mr Green concludes: “Not only does it offer investors looking for yield in a zero interest rate climate and a shield against inflation threats, it provides access to the opportunities and rewards of digital currencies.”