Crypto start-up Revix plans launch in Germany

Revix is already successful in South Africa, and the fintech has now announced that it will be coming to Germany in March 2022 at the latest. The company already has the necessary license issuer.

In an interview with the Handelsblatt founder Sean Sanders announced that his start-up Revix intends to launch in Germany by March 2022 at the latest. To this end, the South African cryptocurrency company is working with Liechtenstein-based fintech 21Finance, which is building a platform through which products and services can be offered on the German market in a regulated manner by third parties. Revix has also secured a trading license: according to Handelsblatt, the start-up has received a license from Munich-based Bankhaus von der Heydt. This would allow the start-up to avoid having to obtain a license from Bafin.

Revix primarily wants to make it easy to invest in cryptocurrencies and therefore offers "bundles" that combine the ten largest cryptocurrencies as one investment, for example. The start-up works with the approach of offering cryptocurrencies first and shares or funds second. According to Sanders, Revix has over 25,000 users in South Africa so far.

The fintech is based in Cape Town and London, with plans to open an office in Frankfurt for Germany. Founded in 2018, the company closed a financing round of 58 million rand in March this year, which corresponds to a converted value of 3.3 million euros.