Crypto start-up Revix plans launch in Germany

In South Africa, Revix is already successful, now the fintech announces to come to Germany in March 2022 at the latest. The company already has a license issuer necessary for this.

Speaking to the Handelsblatt founder Sean Sanders announced that his startup Revix plans to launch in Germany by March 2022 at the latest. To this end, the South African cryptocurrency company is working with the Liechtenstein-based fintech 21Finance, which is building a platform through which products and services can be offered on the German market by third parties in a regulated manner. Revix has also arranged for a license to trade: according to Handelsblatt, the startup will receive a license through Munich-based bank von der Heydt. This would allow the start-up to bypass an issuance by Bafin.

Above all, Revix wants to make it easy to invest in cryptocurrencies and therefore offers "bundles" that, for example, combine the ten largest cryptocurrencies as one investment. In doing so, the startup works with the approach of offering cryptocurrencies first and stocks or funds in the second step. In South Africa, Revix has over 25,000 users so far, according to Sanders.

The fintech is based in Cape Town and London, with an office in Frankfurt planned for Germany. Founded in 2018, the company closed a 58 million rand funding round in March this year, which is a converted value of €3.3 million.