Introducing a familiar, user-centric interface that anyone can use to buy, earn, save and spend cryptocurrency.
London, United Kingdom, 14 December 2018 – Bitstocks, incorporated in 2014, is the City of London’s most established cryptocurrency market advisory and investment firm. Founder and CEO, Michael Hudson, took to the stage at CoinGeek Week Conference, held in London in late November, to reveal the company’s latest development; a Bitcoin banking ecosystem called Gravity.
Gravity aims to solve critical downfalls of existing cryptocurrency solutions, mainly ease of use for the average consumer. Typically, cryptocurrency is still broadly considered to be a heavily technical industry, stifling mainstream adoption for everyday application.
On the concept of Gravity, Michael Hudson states: “Without it, you can neither stand or sit, yet it is not seen. It is everything, yet nothing. This was the brief to my team. To develop a connective ecosystem and an interface that would allow users to interact with cryptocurrency without having to consider the underlying technical elements. You don’t consciously think about the coding and algorithms that go into pulling up a search result if you type a request in Google. You accept and trust that you will find what it is you’re looking for. This was the aim. To make our products and services as ubiquitous as the Internet.”
Gravity will offer several products similar to traditional banking services, with the stark difference of being underpinned by cryptocurrency. Current accounts, for example, will be priced in local fiat currencies, GBP for instance, yet the value of the balance is derived from Bitcoin (Bitcoin SV). In addition, the account will support standing order payments as well as being linked to a debit card for everyday retail transactions.
Products for the initial launch include:
● Current accounts: Personal, joint and business Bitcoin SV exclusive transactional accounts.
● Switch: Instantly ‘switch’ between cryptocurrencies or fiat for amounts under £50,000.
● OTC: Over-the-counter trading for orders over £50,000.
● Advisory: Professionally managed Bitcoin SV portfolio account.
● Affiliate programme: Once registered, anyone can refer people to Bitstocks using a unique referral link. Once transactions from direct introductions are concluded, affiliates are rewarded with a percentage of Bitstocks’ fees, settled in Bitcoin SV.
Medium to long-term plans includes the inclusion of:
● Loans: Fiat loans secured with cryptocurrency balance as collateral, personalised interest and payback periods.
● Fixed income: Offering institutional investors an opportunity to earn Bitcoin SV by providing liquidity for loans.
● Merchant services: Equipping merchants to readily accept cryptocurrency as payment, and the option to instantly convert to fiat, eliminating potential volatility.
● Custody: Providing secure offline storage of cryptocurrency assets.
While Gravity is officially set to launch in mid-2019, pre-registration is open. The pilot focus is on the United Kingdom and greater Europe, but as part of a global offering, Bitstocks will be looking to offer Gravity into other key territories, including Asia and Africa, in due course.
A preview of Gravity’s design and streamlined application is available to view on the Bitstocks TV YouTube channel.
Hudson also announced that after a prolonged period of building resources and infrastructure from internal finances only, Bitstocks has opened applications for external investors as part of a limited equity raise. Funds raised will assist in expediting the rollout of the additional products, as well as the building of prototypes and the acquisition of necessary licensing. Interested parties can apply to be an investor at www.bitstocks.com/investor-relations or email [email protected].
Bitstocks, incorporated in 2014, is the City of London’s most established cryptocurrency market advisory and investment firm, also offering over-the-counter (OTC) trading services. Bitstocks is first and foremost an educational organisation, providing extensive resources and information about the cryptocurrency market, from both a financial and philosophical perspective.
Name of contact: Vee Tardrew
Phone: +44 208 081 0310
Email: [email protected]