Yield App is a digital wealth platform that offers safe custody of digital assets.
The platform allows customers to exchange and earn on their assets at market-leading rates.
The acquisition adds structured products to the Yield Apps product suite.
Digital wealth management platform Yield App yesterday announced it has acquired Trofi Group, a platform that offers structured solutions for cryptocurrencies. The acquisition brings four new structured products to the Yiled App product suite.
Besides providing customers with additional products, the move also makes Yield App one of the leading digital wealth platforms.
What specifically does Trofi Group bring on board?
The team at Trofi Group boasts of 30 years experience in derivatives desks at JP Morgan and HSBC. Now that they will join hands with Yield App in building best-in-class crypto-structured products means Yield App will provide a superior suite of products.
Commenting on the acquisition, the CEO of Yield App, Tim Frost, said:
“The acquisition of Trofi Group establishes Yield App as a pioneer within the crypto-structured products arena, making us one of only a few platforms to bridge the gap between traditional finance and crypto. We are grateful to the team at Trofi for trusting us to continue their excellent work in bringing enhanced yield structured products to crypto. We look forward to leveraging the team’s vast experience to expand Yield App’s suite of digital wealth management solutions.”
Following the acquisition, Yield App will be launching a beta version of a dedicated investment app duped “Trofi, powered by Yield App.” The app will allow customers to access Yield App’s first crypto-structured products through four different strategies and other products including the dual currency, the range, Sharkfin, and the Target.
Dual currency allows investors to acquire cryptocurrencies at a lower price at a predetermined point in the future, while also earning yield. The Range is a structured product that allows investors to generate yield assuming the markets will remain within a specified price range. Sharkfin allows investors with a moderately bullish view of future prices to earn a guaranteed minimum coupon with the potential to generate a high yield at maturity. The Target product allows investors with a bullish view of the future price of a cryptocurrency to earn a high yield.
The post Leading digital wealth platform Yield App acquires Trofi Group appeared first on CoinJournal.
Aptos Labs and Universal Pictures release Web3 game of vampire movie ‘Renfield’
Coinbase CEO says SEC’s notice wasn’t entirely unexpected
NASDAQ to launch its crypto custody services by the end of Q2: Bloomberg