Amun's Plan to Make Buying Crypto Easy

Amun Has Powerful Plans to Make Buying Crypto as Easy as Stock

Amun, a company that wants to give stock-like buying options for the cryptocurrency, has raised $4 million in funding aiming to offer more established channels for crypto ownership.

The startup currently offers punters on an exchange-traded product on the Swiss Stock Exchange which pulls together five of the most popular cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin.

The five-crypto basket is just a commencement for Amun, that is developing ETPs for other digital asses individually. The first one is for Bitcoin with others planned to come soon. Indeed, Amun has licenses to the five digital assets in HODL as well as EOS.

Since products are ETP and not covered by CISA, they are protected in custody and by insurance. Also, they are backed and collateralized by an identical amount of digital assets.

Hany Rashwan, the CEO and co-founder of Amun, said –

“Growing up in Egypt, I saw the government ban Bitcoin despite the fact that it offered an alternative to the Egyptian pound, which saw its valuation tank massively in 2016. I believe that products like Amun allow anyone to take part crypto even when they face local restrictions, as was the case in Egypt and other countries.”

Reshwan added –

“We want to make investing in crypto as easy as buying a stock. Institutional investors around the world are looking for a secure, easy, and regulated way of accessing the crypto asset class. Amun’s products do that at a low price in one of the most reputable financial hubs in the world.”

Investors share their faith and those who took part in this round include the founder of Boost VC ‘Adam Draper’, founder of ETFS Capital ‘Graham Tuckwell’, and co-founder of Hard Yaka ‘Greg Kidd’.

The reason for the investors’ optimism is the fact that Amun a developing technology possibly licensed out for allowing others to develop their own ETFs.

Rashwan said –

“We invest a ton of resources in both our product development and underlying technology infrastructure. This allows us to come up with innovative but professional and safe ways to accessing the digital asset class, as well as do all this on a tech platform that can be used by not just us, but any issuer that wishes to do the same as well.”

Draper added –

“The world needs a company like Amun to make crypto as easy as buying a stock. Now that they were the first to do that, they can now provide the toolset and be the de-facto platform for anyone else looking to take their crypto assets/securities to the public market.”

Still, only giving people the access doesn’t ensure the returns. This depends on the crypto market itself.