Monday, July 15, 2024

    Yield App acquires structured product provider Trofi Group

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    Yield App has acquired Trofi Group, a platform that offers structured product solutions for cryptocurrencies, in response to growing investor demand for enhanced yield investment opportunities. The acquisition adds four new structured product strategies to Yield App’s product suite that offer the opportunity to capture upside across a range of market conditions.

    The move positions Yield App as one of the leading digital wealth platforms on the market that acts as a crucial gateway to the digital asset space through sophisticated products. The team at Trofi Group has a combined 30 years of experience working on the derivatives desks at HSBC and J.P. Morgan. They will join Yield App in building out best-in-class crypto structured products that meet the same rigorous standards as their traditional finance equivalents.

    Commenting on the acquisition, Tim Frost, CEO of Yield App, says: “The acquisition of Trofi Group establishes Yield App as a pioneer within the crypto structured products arena, making us one of only a few platforms to bridge the gap between traditional finance and crypto.”

    “We are grateful to the team at Trofi for trusting us to continue their excellent work in bringing enhanced yield structured products to crypto. We look forward to leveraging the team’s vast experience to expand Yield App’s suite of digital wealth management solutions.”

    Following the acquisition, Yield App will be launching “Trofi, powered by Yield App”: a beta version of a dedicated investment app. The app will allow access to Yield App’s first crypto structured products through four different strategies, with additional products to be unveiled in line with market demand.

    • Dual currency provides investors with the opportunity to acquire a cryptocurrency at a lower price at a predetermined point in the future, while also earning yield.
    • The Range structured product allows investors to generate yield with a view that markets will remain within a specified price range.
    • Sharkfin is designed for investors with a moderately bullish view on future prices, and pays a guaranteed minimum coupon with the potential to generate a high yield at maturity.
    • The Target product is designed for investors with a bullish view on the future price of a cryptocurrency, with the potential to earn a high yield.

    Chief Investment Officer of Yield App, Lucas Kiely, adds: “Structured products have been a core offering under wealth management for years. But in crypto, structured products have not yet gained the prominence they have in traditional finance.”

    “As cryptocurrency markets mature, we find ourselves at a perfect inflection point to introduce digital asset structured products that are built with the same methodology and benefits as an exciting alternative for investors with different risk appetites and objectives.”

    About Yield App

    Yield App is a digital wealth platform that offers safe custody of digital assets, or allows customers to exchange and earn on their assets in return for market-leading rates. Its mission is to safely unlock the full potential of digital assets, combine them with the most rewarding opportunities available across financial markets and make these available to the masses.

    Yield App’s innovative technology platform seamlessly bridges traditional and decentralized finance in the easiest way possible and is supported by Yield App Labs, a dedicated in-house research and development arm, backed by a highly experienced, best-in-class DeFi team. Yield App Labs collaborates with and invests in Web3 projects that share Yield App’s vision for a permissionless future.

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