UK-Based Fintech Startup to Launch Virtual Currency Index
A London-based startup will launch, DLT10, a virtual currency index in the coming weeks.
DLT Financial, in association with Tramonex, created the index to track the performances. It will also allow access of some of the top virtual currencies, including Bitcoin and Ethereum. The company declared the tracker fund will support virtual currencies to become a more attractive asset to investors who do not grasp the technical knowledge.
"We're really looking to bridge the gap between the existing blockchain world of tech and the more traditional institutional investment community," Dave Askey, co-founder of DLT Financial and the CTO of Tramonex, tells Reuters.
He continues, "Currently it's really very hard to invest in these assets as a pretty deep technical knowledge is needed to buy and manage them. We want to bring (them) to the wider community."
The topic on everyone’s mind when it comes to virtual currencies is security. DLT Finance does not want to take the risk of theft. Because of this, the firm will store all data and assets offline for the safety of their investors.
Back in April, Tramonex received a £250,000 ($331,848.75) grant from the UK government’s Technology Strategy Board, Innovate UK. The grant set the firm in motion, establishing a cross-currency payment system using the blockchain. The system was put into action in order to help reduce transactions, fees, and transfers.