Startup Hoard Invest to Challenge Coinbase with Crypto Exchange Following ICO
EXCLUSIVE–Top cryptocurrency exchange Coinbase just got more competition. Several startups are launching marketplaces to rival the crypto giant in the next year. One of those startups, Hoard Invest, a current member of INV Fintech’s Class 4, will launch its beta product, a cryptocurrency exchange platform, in April of this year.
The platform will be available for users on both iOS and Android devices.
Hoard is aiming to chip away at Coinbase by creating an easier, more intuitive bitcoin exchange, one that will solve the notorious speed problem the currency has been experiencing as users attempt to send transactions.
“Our UX is geared more for simplified and contextual transactions, with supplementary help text at every step with a goal improve customer confidence and lower risk,” Jason Davis, co-founder and CEO of Hoard, told Bank Innovation, in drawing a contrast between Hoard and Coinbase.
The Hoard team aims to smooth laborious crypto transactions by “creating a completely private, instant and fee-free transactions including cryptocurrency and Fiat,” Davis said.
The startup hopes to build out capabilities similar to PFM app Acorns, following the release of its exchange, investing users’ spare change in a basket of cryptocurrency rather than the stock market: the platform will round a user’s purchases on their credit or debit to the nearest dollar before putting that change into crypto.
Hoard raised $700,000 in their seed round, and will be conducting an ICO to raise further funds. Their pre-sale will begin this month, with a 20% discount. If interested in the presale, send an email to saft@hoardinvest.com.
