Two major German banks (Onvista and Comdirect) have been able to bring Cardano and Solana investments to their clients.
Cardano and Solana’s investment has been ramping up among institutional investors for a while now. With all of the new interest in decentralized finance (DeFi) and non-fungible tokens (NFTs), it was a natural progression for those interested in investing in the crypto market. This is why various financial services providers have been looking toward assets like Cardano and Solana to broaden their offerings. Now, the bug has caught on in Germany as millions of users receive access to these altcoin investments.
German Banks Bring Cardano Investments
In a recent partnership, two major German banks have been able to bring Cardano and Solana investments to their clients. Onvista and Comdirect, a bank under the Commerzbank AG, have partnered with Valour in a bid to bring more crypto services to their clients.
Comdirect is known as the 3rd-largest bank in Germany, with more than 2.5 million users, according to a 2019 report. It partnered with Valour Inc., a publicly traded company that offers a bridge between traditional financial markets and the decentralized finance space. The trio worked out an integration where Onvista and Comdirect customers will be able to have access to a wide variety of exchange-traded products (ETPs) offered by the crypto company.
With this new offering, the German banks will be able to provide investment options for customers in a variety of altcoins. These include Cardano, Solana, Polkadot, Uniswap, Avalanche, Cosmos, and Enjin, all of these being major players in the decentralized finance space.
These products are being offered alongside the existing passive investment products in Bitcoin and Ethereum already offered by Valour. The Bitcoin Zero and Ethereum Zero were the flagship products of the firm.
It is interesting to see altcoins such as Uniswap on this list as it shows that interest in the DeFi protocol is growing. A report from CoinShares shows that Uniswap was the only altcoin to see notable inflows for last week, with $100,000 from institutional investors flowing into the digital.
As for the partnership between the trio, Russell Starr, CEO of Valour, praised it as a step in the right direction for what the firm is trying to build. “Our recent hires have already added tremendous value to our team and will continue to execute at a high level, despite market conditions,” the CEO added.
Chief Sales Officer at Valour, Marco Infuso, also chimed in on the partnership, saying, “By integrating Valour’s low to zero-fee ETPs, Comdirect and Onvista will be able to provide their customers access to safe and regulated exposure to the crypto ecosystem.” Infuso went on further to say, “Especially during ‘crypto winter’ times, costs are a foremost priority for investors. Offering zero-cost investment options in Bitcoin and Ethereum is a substantial advantage for our investors and is another milestone in the democratization of this young and growing asset class.”
Cardano is trading at $0.54 at the time of this writing, while Solana is trending at the $41 territory.