Zignaly Secures $50 Million Funding to Fuel Global Expansion
Nicholas Otieno Mar 04, 2022 07:25
Zignaly social investment platform provides a variety of products and services that aim to make cryptocurrency investment accessible to retail investors.
Zignaly, a Singapore-based social investment platform, announced on Thursday that it has raised $50 million in investment funding from GEM Global Yield LLC SCS (GGY), a Luxembourg-based alternative investment group focused on emerging markets across the world.
Zignaly said that it plans to use the funding to accelerate its global expansion. The company stated that it will use the capital to expand its presence into Southeast Asia, West Asia, Turkey, India, South America, and Europe. Besides that, Zignaly mentioned that it intends to use part of the funding to hire new staff for its deeptech and product development teams as well as hiring a new chief marketing officer.
Bartolome Bordallo, the CEO of Zignaly, talked about the financing and said: “From the early days of Zignaly, it has been our goal to open up new pathways for regular investors to take better advantage of the crypto economy, by enabling the kinds of managed and high-leverage vehicles that were formerly only reserved for the ultra-wealthy. This financing from GEM will allow the company to propel significant new product development and global adoption of the Zignaly platform, so we can empower the masses with a vastly better way to invest.”
Zignaly has all prerequisites to expand its platform across global scale. The platform is built upon the Binance broker program. This means that Zignaly platform relies on Binance’s technology, liquidity, and market depth. Currently, Binance is the largest crypto exchange in the world by trading volume both in the spot and futures markets.
Zignaly platform also connects its users’ accounts to KuCoin and BitMex, two other popular cryptocurrency exchanges, which operate derivative platforms. Many traders prefer crypto futures – investment products that allow users to speculate on the price fluctuations without owning the underlying assets – because they can maximize potential gains, thanks to a feature popularly known as ‘leverage.’ Apart from embarking on global adoption programs, Zignaly is also working to launch new products to make the cryptocurrency investment experience more accessible to everyone.
Harnessing Digital Investment Opportunities
One of the best places for users to kickstart their crypto investing career is a social trading platform. Trading crypto coins is complex because of volatility. It is also complex because several things do not work the same way they do in traditional finance. So, a social trading platform is the best place for new traders to begin earning quickly without having to spend weeks educating themselves on the ways of the cryptocurrency industry.
Zignaly lowers the barrier to entry for investors who are seeking to trade and add digital assets to their portfolios. The platform enables investors to trade through the learning strategies and the experience of expert traders. The platform allows traders and fund managers to share their track records and expertise. The profits are shared between the expert and the trader.
Image source: Zignaly
