London-based crypto agency Neverless, based by former Revolut executives Phuc To, Arthur Johanet and Mikael Peydayesh, has launched a “Boosted Bitcoin Plan,” designed to assist retail customers develop their bitcoin holdings sooner via automated, recurring purchases enhanced by leverage.
The brand new funding product builds on the dollar-cost averaging method – a technique the place traders purchase a set quantity of bitcoin at common intervals to clean out volatility – with an added twist that enables customers to borrow as much as 5 instances their contribution.
The platform automates each the purchases and the lending course of, utilizing deposited euros or crypto as collateral, in accordance with the press launch shared with CoinDesk.
Neverless’s CEO, Phuc To (who was additionally the previous international head of product at Revolut), stated the instrument is designed to supply atypical traders with entry to the identical sort of credit-fueled wealth-building mechanisms which have lengthy been out there to establishments and high-net-worth people.
“Establishments can elevate capital and banks give rich individuals loans to purchase belongings that really develop. And what do atypical individuals get? Bank cards that put us in debt. Neverless provides you financing energy to personal a bit of the century’s finest performing asset for your self — and construct wealth the way in which wealthy individuals do,” Phuc To stated in a press release.
Based in 2022, Neverless already permits customers to commerce greater than 500 cryptocurrencies with no charges and gives entry to DeFi belongings sometimes out of attain for retail traders.
Since securing $6.7 million in seed funding and a MiFID license final 12 months, the corporate has grown to 50,000 customers and processed over $1 billion in buying and selling quantity.